IBOV 171,133 ▼ 0.21% IPSA 10,923 ▲ 1.70% IPC MEX 67,955 ▲ 1.46% MERVAL 3,352,708 ▼ 0.01% COLCAP 2,386.78 ▲ 1.53% BVL PERÚ 56,321.11 ▲ 7.67% USD/BRL 5.06 ▲ 0.01% USD/MXN 17.29 ▲ 0.45% USD/CLP 898.70 — 0.00% USD/COP 3,454 ▼ 1.31% USD/PEN 3.40 ▼ 0.01% USD/ARS 1,429 ▼ 0.28% USD/UYU 40.54 ▲ 1.33% USD/PYG 6,094 ▲ 0.45% USD/BOB 6.85 ▲ 1.63% USD/DOP 58.68 ▲ 1.74% USD/CRC 451.82 ▲ 1.15% USD/GTQ 7.61 ▲ 2.17% USD/HNL 26.65 ▲ 1.30% USD/NIO 36.62 — 0.00% USD/VES 581.23 ▼ 0.13% USD/PAB 1.00 ▲ 2.27% USD/BZD 2.00 ▲ 1.70% USD/JMD 157.59 ▲ 0.65% USD/TTD 6.76 ▲ 1.49% EUR/BRL 5.86 ▼ 2.16% BRENT 87.33 ▼ 3.37% WTI 84.88 ▼ 3.23% IRON ORE 161.91 — — COPPER 6.45 ▲ 2.97% GOLD 4,239 ▲ 3.63% SILVER 67.97 ▲ 6.40% SOY 1,132 ▲ 1.52% CORN 412.75 ▲ 0.24% WHEAT 584.50 ▼ 0.38% COFFEE 253.80 ▼ 0.06% SUGAR 14.24 ▲ 3.26% ORANGE JUICE 164.85 ▼ 0.57% COTTON 76.34 ▲ 5.31% COCOA 3,979 ▲ 7.25% BEEF 241.18 ▼ 4.10% CATTLE 357.43 ▼ 0.62% LITHIUM 82.37 ▲ 2.02% PETR4 41.18 — 0.00% VALE3 79.17 — 0.00% ITUB4 40.60 — 0.00% BBDC4 17.80 ▲ 0.68% ABEV3 16.61 ▼ 0.18% BBAS3 19.46 ▲ 0.26% B3SA3 15.23 ▼ 1.36% WEGE3 42.61 — 0.00% PRIO3 61.34 — 0.00% SUZB3 41.52 ▲ 0.56% RENT3 40.70 ▼ 0.25% AZZA3 17.19 ▼ 1.83% CSAN3 3.34 ▼ 0.89% RAIZ4 0.43 — 0.00% PCAR3 1.55 — 0.00% GMAT3 3.96 — 0.00% PSSA3 50.49 — 0.00% CVCB3 1.39 ▲ 5.30% POSI3 3.64 — 0.00% SLCE3 14.25 — 0.00% NATU3 8.56 — 0.00% BRKM5 9.10 ▼ 6.67% RANI3 7.95 — 0.00% CSNA3 6.05 ▲ 0.67% CMIN3 4.30 ▼ 0.92% USIM5 10.85 — 0.00% GGBR4 23.88 — 0.00% ENEV3 24.54 ▲ 0.57% NEOE3 33.80 — 0.00% CPFE3 44.42 ▲ 0.11% CMIG4 10.73 ▼ 0.74% EQTL3 38.77 ▼ 0.31% LREN3 15.38 — 0.00% VIVT3 33.53 — 0.00% RAIL3 13.36 — 0.00% KLABIN 16.88 — 0.00% RAIA DROGASIL 17.46 — 0.00% RDOR3 34.08 — 0.00% HAPV3 11.40 — 0.00% FLRY3 15.18 ▲ 0.13% SMTO3 15.80 — 0.00% UGPA3 24.80 — 0.00% VBBR3 29.15 — 0.00% BBSE3 37.87 ▲ 0.19% BPAC11 50.39 ▼ 0.18% CURY3 32.11 ▲ 0.72% AERI3 2.33 ▼ 0.43% VIVARA 21.33 — 0.00% COMPASS 25.29 — 0.00% VAMOS 3.03 ▲ 3.06% SANB11 27.13 — 0.00% ASAI3 8.10 ▼ 1.70% SBSP3 27.54 — 0.00% WALMEX 52.15 ▲ 0.66% GMEXICO 209.34 ▲ 1.32% FEMSA 222.73 ▲ 0.52% CEMEX 22.31 ▲ 1.97% GFNORTE 187.96 ▲ 2.92% BIMBO 58.24 — 0.00% TELEVISA 9.99 ▲ 1.42% AMX 23.92 ▲ 0.34% GAP 407.52 ▲ 2.66% ASUR 287.09 ▲ 1.07% OMA 219.39 ▲ 2.80% KOF 187.96 ▲ 1.56% GRUMA 296.70 ▲ 1.09% KIMBER 37.42 ▲ 2.44% SQM-B 75,500 ▲ 3.99% COPEC 6,120 ▼ 0.63% BSANTANDER 73.60 ▲ 1.60% FALABELLA 5,950 ▼ 0.34% ENELAM 79.57 ▲ 3.06% CENCOSUD 2,248 ▲ 3.11% CMPC 1,060 ▲ 1.89% BANCO CHILE 182.00 ▲ 2.10% LATAM AIR 23.94 ▲ 3.41% YPF 83,400 ▼ 0.36% GGAL 8,210 ▼ 0.73% PAMPA 5,290 ▼ 0.28% TXAR 694.00 ▼ 0.93% ALUAR 1,029 ▲ 0.19% TGS 9,875 ▼ 0.25% CEPU 2,371 ▼ 1.00% MIRGOR 17,150 ▼ 0.72% COME 44.98 ▼ 2.34% LOMA NEGRA 3,750 — 0.00% BYMA 305.50 ▲ 0.74% TELECOM ARG 4,570 ▼ 3.89% ECOPETROL 16.58 ▲ 1.97% BANCOLOMBIA 80.26 ▼ 0.71% GRUPO AVAL 5.55 ▲ 3.16% CREDICORP 369.55 ▲ 0.32% SOUTHERN COPPER 189.79 ▲ 4.19% BUENAVENTURA 33.42 ▲ 2.01% MERCADOLIBRE 1,590 ▼ 1.27% NUBANK 12.19 ▲ 0.83% XP 16.02 ▲ 2.36% PAGSEGURO 8.96 ▲ 0.22% STONE 11.26 ▲ 0.09% GLOBANT 37.49 ▲ 2.94% TECNOGLASS 43.79 ▲ 0.11% GAP AIRPORT 236.89 ▲ 3.08% ASUR 287.09 ▲ 1.07% OMA AIRPORT 101.77 ▲ 2.59% AMX ADR 27.76 ▲ 0.36% FEMSA ADR 129.37 ▲ 0.79% CEMEX ADR 12.98 ▲ 2.20% PETROBRAS ADR 18.38 ▲ 0.77% VALE ADR 15.71 ▲ 2.28% ITAU ADR 7.99 ▲ 1.01% SANTANDER BR 5.43 ▲ 1.12% AMBEV ADR 3.25 ▲ 0.93% CSN 1.22 ▲ 0.83% GERDAU 4.75 ▲ 1.93% LATAM ADR 53.25 ▲ 3.46% BTC 64,325 ▼ 0.15% ETH 1,667 ▼ 0.79% SOL 67.76 ▼ 1.62% XRP 1.14 ▼ 1.06% BNB 611.29 ▲ 0.29% ADA 0.17 ▼ 2.07% DOGE 0.09 ▼ 1.59% AVAX 6.60 ▼ 1.72% LINK 7.88 ▼ 1.17% DOT 0.96 ▼ 1.63% LTC 43.97 ▼ 0.71% BCH 203.00 ▼ 2.75% TRX 0.32 ▲ 0.12% XLM 0.18 ▼ 2.37% HBAR 0.08 ▲ 0.27% NEAR 2.09 ▼ 1.61% ATOM 1.93 ▼ 1.06% AAVE 66.13 ▼ 1.35% SELIC 14.50% EMBRAER 72.85 ▲ 2.32% EMBRAER ADR 57.80 ▲ 3.02% JBS 12.54 ▲ 2.79% JBS BDR 62.98 — 0.00% MBRF3 15.99 — 0.00% MBRFY 3.00 ▼ 0.99% INTER 5.77 ▲ 1.05% EGX 51,995 ▲ 1.44% USD/ZAR 16.28 ▲ 0.19% USD/NGN 1,360 ▲ 0.01% NIKKEI 66,020 ▲ 2.81% CSI300 4,777 ▲ 1.16% HSI 24,718 ▲ 1.93% NIFTY 23,623 ▲ 1.99% KOSPI 8,124 ▲ 4.63% JCI 6,008 ▲ 2.07% USD/JPY 160.19 ▲ 0.17% USD/CNY 6.7621 ▼ 0.19% DAX 24,635 ▲ 1.76% CAC 8,351 ▲ 1.83% FTSE 10,472 ▲ 1.63% MIB 51,497 ▲ 1.96% IBEX 18,764 ▲ 2.59% STOXX 633.21 ▲ 1.88% EUR/USD 1.1573 ▼ 0.08% GBP/USD 1.3408 ▼ 0.10% SPX 7,431 ▲ 0.50% DJI 51,202 ▲ 0.70% NDX 29,636 ▲ 0.64% RUT 2,944 ▲ 0.79% TSX 34,938 ▲ 0.77% VIX 17.68 ▼ 9.05% USD/CAD 1.3989 ▲ 0.21% US10Y 4.4870 ▲ 0.54% IBOV 171,133 ▼ 0.21% IPSA 10,923 ▲ 1.70% IPC MEX 67,955 ▲ 1.46% MERVAL 3,352,708 ▼ 0.01% COLCAP 2,386.78 ▲ 1.53% BVL PERÚ 56,321.11 ▲ 7.67% USD/BRL 5.06 ▲ 0.01% USD/MXN 17.29 ▲ 0.45% USD/CLP 898.70 — 0.00% USD/COP 3,454 ▼ 1.31% USD/PEN 3.40 ▼ 0.01% USD/ARS 1,429 ▼ 0.28% USD/UYU 40.54 ▲ 1.33% USD/PYG 6,094 ▲ 0.45% USD/BOB 6.85 ▲ 1.63% USD/DOP 58.68 ▲ 1.74% USD/CRC 451.82 ▲ 1.15% USD/GTQ 7.61 ▲ 2.17% USD/HNL 26.65 ▲ 1.30% USD/NIO 36.62 — 0.00% USD/VES 581.23 ▼ 0.13% USD/PAB 1.00 ▲ 2.27% USD/BZD 2.00 ▲ 1.70% USD/JMD 157.59 ▲ 0.65% USD/TTD 6.76 ▲ 1.49% EUR/BRL 5.86 ▼ 2.16% BRENT 87.33 ▼ 3.37% WTI 84.88 ▼ 3.23% IRON ORE 161.91 — — COPPER 6.45 ▲ 2.97% GOLD 4,239 ▲ 3.63% SILVER 67.97 ▲ 6.40% SOY 1,132 ▲ 1.52% CORN 412.75 ▲ 0.24% WHEAT 584.50 ▼ 0.38% COFFEE 253.80 ▼ 0.06% SUGAR 14.24 ▲ 3.26% ORANGE JUICE 164.85 ▼ 0.57% COTTON 76.34 ▲ 5.31% COCOA 3,979 ▲ 7.25% BEEF 241.18 ▼ 4.10% CATTLE 357.43 ▼ 0.62% LITHIUM 82.37 ▲ 2.02% PETR4 41.18 — 0.00% VALE3 79.17 — 0.00% ITUB4 40.60 — 0.00% BBDC4 17.80 ▲ 0.68% ABEV3 16.61 ▼ 0.18% BBAS3 19.46 ▲ 0.26% B3SA3 15.23 ▼ 1.36% WEGE3 42.61 — 0.00% PRIO3 61.34 — 0.00% SUZB3 41.52 ▲ 0.56% RENT3 40.70 ▼ 0.25% AZZA3 17.19 ▼ 1.83% CSAN3 3.34 ▼ 0.89% RAIZ4 0.43 — 0.00% PCAR3 1.55 — 0.00% GMAT3 3.96 — 0.00% PSSA3 50.49 — 0.00% CVCB3 1.39 ▲ 5.30% POSI3 3.64 — 0.00% SLCE3 14.25 — 0.00% NATU3 8.56 — 0.00% BRKM5 9.10 ▼ 6.67% RANI3 7.95 — 0.00% CSNA3 6.05 ▲ 0.67% CMIN3 4.30 ▼ 0.92% USIM5 10.85 — 0.00% GGBR4 23.88 — 0.00% ENEV3 24.54 ▲ 0.57% NEOE3 33.80 — 0.00% CPFE3 44.42 ▲ 0.11% CMIG4 10.73 ▼ 0.74% EQTL3 38.77 ▼ 0.31% LREN3 15.38 — 0.00% VIVT3 33.53 — 0.00% RAIL3 13.36 — 0.00% KLABIN 16.88 — 0.00% RAIA DROGASIL 17.46 — 0.00% RDOR3 34.08 — 0.00% HAPV3 11.40 — 0.00% FLRY3 15.18 ▲ 0.13% SMTO3 15.80 — 0.00% UGPA3 24.80 — 0.00% VBBR3 29.15 — 0.00% BBSE3 37.87 ▲ 0.19% BPAC11 50.39 ▼ 0.18% CURY3 32.11 ▲ 0.72% AERI3 2.33 ▼ 0.43% VIVARA 21.33 — 0.00% COMPASS 25.29 — 0.00% VAMOS 3.03 ▲ 3.06% SANB11 27.13 — 0.00% ASAI3 8.10 ▼ 1.70% SBSP3 27.54 — 0.00% WALMEX 52.15 ▲ 0.66% GMEXICO 209.34 ▲ 1.32% FEMSA 222.73 ▲ 0.52% CEMEX 22.31 ▲ 1.97% GFNORTE 187.96 ▲ 2.92% BIMBO 58.24 — 0.00% TELEVISA 9.99 ▲ 1.42% AMX 23.92 ▲ 0.34% GAP 407.52 ▲ 2.66% ASUR 287.09 ▲ 1.07% OMA 219.39 ▲ 2.80% KOF 187.96 ▲ 1.56% GRUMA 296.70 ▲ 1.09% KIMBER 37.42 ▲ 2.44% SQM-B 75,500 ▲ 3.99% COPEC 6,120 ▼ 0.63% BSANTANDER 73.60 ▲ 1.60% FALABELLA 5,950 ▼ 0.34% ENELAM 79.57 ▲ 3.06% CENCOSUD 2,248 ▲ 3.11% CMPC 1,060 ▲ 1.89% BANCO CHILE 182.00 ▲ 2.10% LATAM AIR 23.94 ▲ 3.41% YPF 83,400 ▼ 0.36% GGAL 8,210 ▼ 0.73% PAMPA 5,290 ▼ 0.28% TXAR 694.00 ▼ 0.93% ALUAR 1,029 ▲ 0.19% TGS 9,875 ▼ 0.25% CEPU 2,371 ▼ 1.00% MIRGOR 17,150 ▼ 0.72% COME 44.98 ▼ 2.34% LOMA NEGRA 3,750 — 0.00% BYMA 305.50 ▲ 0.74% TELECOM ARG 4,570 ▼ 3.89% ECOPETROL 16.58 ▲ 1.97% BANCOLOMBIA 80.26 ▼ 0.71% GRUPO AVAL 5.55 ▲ 3.16% CREDICORP 369.55 ▲ 0.32% SOUTHERN COPPER 189.79 ▲ 4.19% BUENAVENTURA 33.42 ▲ 2.01% MERCADOLIBRE 1,590 ▼ 1.27% NUBANK 12.19 ▲ 0.83% XP 16.02 ▲ 2.36% PAGSEGURO 8.96 ▲ 0.22% STONE 11.26 ▲ 0.09% GLOBANT 37.49 ▲ 2.94% TECNOGLASS 43.79 ▲ 0.11% GAP AIRPORT 236.89 ▲ 3.08% ASUR 287.09 ▲ 1.07% OMA AIRPORT 101.77 ▲ 2.59% AMX ADR 27.76 ▲ 0.36% FEMSA ADR 129.37 ▲ 0.79% CEMEX ADR 12.98 ▲ 2.20% PETROBRAS ADR 18.38 ▲ 0.77% VALE ADR 15.71 ▲ 2.28% ITAU ADR 7.99 ▲ 1.01% SANTANDER BR 5.43 ▲ 1.12% AMBEV ADR 3.25 ▲ 0.93% CSN 1.22 ▲ 0.83% GERDAU 4.75 ▲ 1.93% LATAM ADR 53.25 ▲ 3.46% BTC 64,325 ▼ 0.15% ETH 1,667 ▼ 0.79% SOL 67.76 ▼ 1.62% XRP 1.14 ▼ 1.06% BNB 611.29 ▲ 0.29% ADA 0.17 ▼ 2.07% DOGE 0.09 ▼ 1.59% AVAX 6.60 ▼ 1.72% LINK 7.88 ▼ 1.17% DOT 0.96 ▼ 1.63% LTC 43.97 ▼ 0.71% BCH 203.00 ▼ 2.75% TRX 0.32 ▲ 0.12% XLM 0.18 ▼ 2.37% HBAR 0.08 ▲ 0.27% NEAR 2.09 ▼ 1.61% ATOM 1.93 ▼ 1.06% AAVE 66.13 ▼ 1.35% SELIC 14.50% EMBRAER 72.85 ▲ 2.32% EMBRAER ADR 57.80 ▲ 3.02% JBS 12.54 ▲ 2.79% JBS BDR 62.98 — 0.00% MBRF3 15.99 — 0.00% MBRFY 3.00 ▼ 0.99% INTER 5.77 ▲ 1.05% EGX 51,995 ▲ 1.44% USD/ZAR 16.28 ▲ 0.19% USD/NGN 1,360 ▲ 0.01% NIKKEI 66,020 ▲ 2.81% CSI300 4,777 ▲ 1.16% HSI 24,718 ▲ 1.93% NIFTY 23,623 ▲ 1.99% KOSPI 8,124 ▲ 4.63% JCI 6,008 ▲ 2.07% USD/JPY 160.19 ▲ 0.17% USD/CNY 6.7621 ▼ 0.19% DAX 24,635 ▲ 1.76% CAC 8,351 ▲ 1.83% FTSE 10,472 ▲ 1.63% MIB 51,497 ▲ 1.96% IBEX 18,764 ▲ 2.59% STOXX 633.21 ▲ 1.88% EUR/USD 1.1573 ▼ 0.08% GBP/USD 1.3408 ▼ 0.10% SPX 7,431 ▲ 0.50% DJI 51,202 ▲ 0.70% NDX 29,636 ▲ 0.64% RUT 2,944 ▲ 0.79% TSX 34,938 ▲ 0.77% VIX 17.68 ▼ 9.05% USD/CAD 1.3989 ▲ 0.21% US10Y 4.4870 ▲ 0.54%
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Mexico Defense Monitor

Mexico Slashes Military Budget While Rivals Strengthen Defense

By · November 23, 2024 · 2 min read

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Mexico’s decision to cut its military budget by 41% for 2025 stands out as a risky move in an increasingly unstable world. The Ministry of National Defense will operate with just $7.6 billion, down from $12.97 billion in 2024. The Navy faces similar constraints, with its budget dropping to $3.29 billion.

These cuts arrive at a critical moment. Brazil, Mexico’s main regional competitor, plans to boost its military spending to $23.7 billion. This strategic choice positions Brazil as Latin America’s dominant military power. Even smaller economies like Colombia maintain a $10.4 billion defense budget, while Chile increases its military funding by 2.7%.

The consequences for Mexico could be severe. Airport infrastructure funding drops by 82%, from $1.14 billion to just $201 million. National security investments receive a mere $321 million. These reductions limit Mexico’s ability to control its territory and respond to threats.

Mexico’s military modernization plans, including new vehicles and aircraft, lack the necessary funding for implementation. Meanwhile, Brazil advances its military capabilities with new helicopters and advanced defense systems, aiming to meet NATO spending standards of 2% GDP.

Mexico Slashes Military Budget While Rivals Strengthen Defense. (Photo Internet reproduction)
Mexico Slashes Military Budget While Rivals Strengthen Defense. (Photo Internet reproduction)
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Mexico Slashes Military Budget While Rivals Strengthen Defense

The timing of these cuts raises concerns. Global military spending continues to rise as nations respond to increasing security threats. Mexico’s reduced military capacity could make it more vulnerable to organized crime, which already challenges state authority in several regions.

This budget decision reflects a deeper issue: Mexico’s adherence to outdated social spending priorities weakens its position in a world where military strength increasingly matters. While neighboring countries strengthen their defense capabilities, Mexico risks falling behind in regional influence and security readiness.

The stark contrast between Mexico’s approach and its neighbors’ strategies suggests a potential shift in regional power dynamics. Brazil’s military expansion, Colombia’s maintained investment despite political challenges, and Chile’s focused security spending all point to a changing Latin American security landscape where Mexico may find itself at a disadvantage.

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For the complete picture, read our in-depth guide: Mexico Economy 2026: GDP, Peso, Nearshoring, Banxico and Trade

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