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    BBVA Research Publications

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    April 11, 2025

    Mexico | Financial Regulation. March 2025

    We present a summary and analysis of the most relevant developments and publications in Mexico's financial regulatory landscape.

    April 10, 2025

    Real Estate Outlook Mexico. First semester 2025

    Construction GDP grew 2.6% thanks to a 6.9% increase in building construction, despite the decline in other subsectors. The mortgage market increased its number of loans by 10.7%, primarily due to the recovery of affordable housing.

    April 7, 2025

    Latam | Economic normalization amid an uncertain environment

    The last months of 2024 gave some glimpses of the challenges Latam could face in the coming years. However, looking beyond the first quarter of 2025, some—albeit not all—of these warning signs have faded.

    April 3, 2025

    Mexico|Mexico to face relatively lower protectionism, potentially revitalizing nearshoring

    On April 2, 2025, the White House issued an executive order introducing reciprocal tariffs aimed at regulating U.S. trade and reducing the trade deficit. A baseline 10% tariff will take effect on April 5, while country-specific reciprocal tariffs will be implemented starting April 9.

    April 2, 2025

    Mexico | Fiscal consolidation underway despite optimistic growth assumptions

    The 2026 General Economic Policy Pre-Criteria confirm the intention of the federal government to regain fiscal discipline by setting a target of 0.6% of GDP for the primary surplus and look to achieve stability around 52.3% of GDP for public debt in 2025 and 2026, sending a positive signal.

    April 1, 2025

    Mexico | Mexican Economy: Challenges and Opportunities from the 2024 Economic Census

    The Mexican economy faces significant structural challenges. The 2024 Economic Census provides key data on business growth, employment, productivity, and issues related to informality and widespread use of cash, which are essential for shaping economic development policies.

    March 31, 2025

    Mexico | Manufacturing shows signs of improvement in February; tariff risks remain

    The BBVA Research Multidimensional Manufacturing Indicator fell (-)0.4% YoY in February, the smallest contraction since March 2024