Economy of Nayarit

Located in the mid-west of the nation, Nayarit happens to be the state reporting the lowest growth rates in the region during the last few years. Part of the problem appears to be originated in the contraction of the industrial sectors, as well as in the total absence of productive activities that may actually articulate and integrate economic development. Not to mention a private investment close to zero and the resulting lack of business opportunities.

More than 60% of the state Gross Domestic Product comes from the Services sector, led by communal, social and personal services; followed by commerce, hotels and restaurants; and finally by financial, leasing and insurance services. The primary sector of the economy contributes with a mere 11,7%, mostly consisting of fresh produce such as cambray watermelon, tobacco, black beans, coconut, 14 different kinds of plantain, mango, corn, wheat and sugar cane, as well as the production of shrimp, gray mullet, sea bass, sea bream, shark, oysters and dogfish.

The state in fact shows great potential for developing industries from the primary sector due to its geographical location within the Tropic of Cancer, which implies plenty of rainfall during summer, as well as for the abundant natural resources contained throughout its territory. This is why great hope and expectation are placed on the water-dwelling and fishing industries, the traditional agricultural sector and the production of fruits and vegetables. Regarding tourism, the state has to overcome the current concentration of tourist development across the southern coasts.

It is worth noting that the latest statistics regarding population and marginalization in the state, report the Nayarit municipalities of El Nayar, Huajicori and La Yesca as being highly or severely marginalized, while other eight municipalities are described as simply marginalized.
 

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