Home Business-newBusiness Foreign Direct Investment in Mexico grows 5.7% in the first 9 months of 2021

Foreign Direct Investment in Mexico grows 5.7% in the first 9 months of 2021

by Yucatan Times
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“The amounts reported only consider investments made and formally notified to the National Registry of Foreign Investments of the Ministry of Economy; hence its preliminary nature and the fact that they undergo updates in successive quarters ”, stated the Ministry of Economy.

Mexico City, November 24, 2021, (EFE) .– Foreign Direct Investment in Mexico grew 5.7 percent in the first nine months of 2021 compared to the same period of the previous year to reach 24,831.7 million dollars, reported this Monday the Secretariat of Economy (SE).

This “Shows a recovery of FDI flows ( Foreign Direct Investment ), in congruence with the positive global trend, according to the latest data from UNCTAD (United Nations Conference on Trade and Development)”, reported the Secretariat in a statement.

By countries of origin, the United States contributed 49.6 percent; Spain 10.7 percent, Japan 6.3 percent, Germany 5.3 percent, and Canada 5.2 percent. The other countries contributed the remaining 22.9 percent.

By source of financing, 40.3 percent of the total comes from the reinvestment of profits, 38.4 percent from new investments, and 21.3 percent from intercompany accounts.

By sectors, manufacturing accounted for 45 percent of the investment received, 14 percent of the investments went to the mining sector, 10.9 percent to financial and insurance services, 10 percent to transportation six percent to commerce, and 4.6 percent to temporary accommodation services.

The Mexican economy contracted 8.2 percent in 2020, its worst slump since the Great Depression of 1932, and a rebound is estimated for 2021 of more than six percent.

Source: Sin Embargo

TYT Newsroom

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