Querétaro’s GDP growth was 4.1%, higher than the national average; stated Armando Ríos Piter


Querétaro has become the driving force of the regional economy, as the national GDP growth was 3.3%, and in the case of Querétaro, it was 4.1% in the third quarter of 2023, emphasized Armando Rios Piter, Director of Institutional Relations at Actinver.

‘It tells us that Querétaro, once the pandemic has passed, has once again positioned itself as one of the important engines that drive regional growth and obviously the country’s aggregate,’ he pointed out.

He stressed that the entity gains relevance when considering the phenomenon of relocation, since at the end of the fourth quarter of 2023, it received 1.107 billion dollars in foreign direct investment, while exports were 18.079 billion dollars.

He specified that in the case of sectors with the most growth is manufacturing with 0.3% in November 2023, as well as remittances that have grown steadily in recent years.

He considered that in remittances the state received a fifth of what the new Tesla plant in Nuevo León or the data region that Amazon Web Service will have in Querétaro implies.

‘There is an important fact, the remittances that have generated a significant flow of international currency, in total in the country in the third quarter of 2023 there were 63.320 billion dollars in total in the country, of those, the remittances that obviously also help domestic consumption, strengthen the popular economy to the extent that resources are received from relatives who are elsewhere outside the national border, in the case of Querétaro were 1.249 billion dollars,’ he emphasized.

He emphasized that given the results of the state’s economy, they foresee that this 2024 will also have positive results

‘Obviously, if the conditions that we have seen are maintained, especially after the recovery that the Queretaro economy has had after the pandemic,’ he pointed out.

He also highlighted the employment figures in the entity, since in the country, 1.039 million jobs were generated at the end of the fourth quarter of 2023, and in Querétaro, 73,313 jobs were produced.

‘A quite relevant figure, if we put it precisely in the context that it would almost be 8% of the total jobs generated in the country,’ he asserted.”

Source: Diario de Queretaro