Mexico's Railway System Sets New Record: 132.69 Million Tons in 2024
The Mexican Railway System has achieved a significant milestone, transporting a record 132.69 million tons of cargo in 2024. This impressive figure represents a 0.92% increase from the previous year, setting a new historic high. The system's success is further highlighted by its role in foreign trade, with 96.03 million tons destined for export, accounting for 72.37% of the total transported.
The growth of the railway system is evident in its increasing share of freight transport. Over the past three decades, trains have more than doubled their share, rising from around 10 or 11% to nearly 26%. This growth has been supported by major investments from global companies such as Siemens Mobility, Alstom, Hitachi Rail, CRRC Corporation, and General Electric Transportation. These companies are committed to renewing, modernizing, and technologically advancing the railway infrastructure over the next 27 years.
The economic impact of the railway system is substantial. In 2024, freight services generated a total revenue of 89,327.6 million pesos. Furthermore, the Gross Domestic Product (GDP) of rail transportation increased by 5.43% in real terms compared to the previous year.
The Mexican Railway Association (AMF) is looking to build on this success by migrating more road cargo to rail. This strategy, coupled with the support for nearshoring, is expected to further boost the volume of cargo transported by the railway system. As the system continues to modernize and expand, it is poised to play an even more significant role in Mexico's economy and trade.
Read also:
- HLC Approves ₹4,645.60 Crore for Flood Recovery and Wetland Rejuvenation in Nine States
- Crooked House Pub's Demolition: Council Orders Rebuild, Debate on Historic Building Protections
- Shaping India's Economic Progression: Readying the Financial System for Tomorrow
- Ethiopia's Grand Dam: 15,000 Lives Lost, Water Concerns Unresolved
