Cross-border trade across the Tijuana border has been a key driver of the region's economic and industrial growth in recent years. According to the US Bureau of Transportation, the number of trucks carrying merchandise from Tijuana to the United States has increased by 119% in the past 26 years, with 839,843 trucks crossing in 2022 alone, a 13% increase from the previous year. The Secretariat of Economy in Mexico reports that electronic devices, automotive manufacturing, and health supplies were the leading exports from Tijuana last year, with nearly 94% going to the United States.

This trend is reflected in Tijuana's industrial real estate market, which has experienced significant growth in recent years. In fact, Tijuana's industrial sector had one of the highest growth rates in Mexico in 2022, trailing only Mexico City and Monterrey. SiiLA reports that net industrial absorption in Tijuana increased by 6% in 2022. This growth was largely driven by retail, capital goods, and transportation and logistics companies. Despite the recent surge in industrial demand from these sectors, Tijuana's economy primarily depends on manufacturing. Market Analytics data show that 46% of the existing industrial space in the region is occupied by companies dedicated to the manufacturing of electronics, medical supplies, vehicles and parts, including well-known companies such as Hyundai, Hisense, and Baxter.

Tijuana's economic and industrial dynamism can be attributed to its strong commercial ties with the United States. The region's proximity to the border and the presence of US and Asian companies have made Tijuana a crucial logistics and manufacturing hub, with excellent growth prospects due to the current demand for skilled labor and industrial space on the northern border of Mexico.

If you're interested in learning more about the industrial real estate market in Mexico and staying up-to-date on the latest trends and insights, be sure to visit our website or reach out to us at contacto@siila.com.mx. Our team of experts is dedicated to providing valuable market intelligence and analysis to help you make informed decisions about your investments in Mexico.