Home Business-newBusiness Mexico registers 20.3 billion US dollars in foreign investment in the first quarter of 2024

Mexico registers 20.3 billion US dollars in foreign investment in the first quarter of 2024

by Yucatan Times
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The figure reached was 9 percent higher than that reported for the same period in 2023 when it reached 18.6 billion US dollars.

Foreign investment (FDI) in Mexico registered 20.3 billion dollars in the first quarter of 2024, a new historical maximum, reported the Ministry of Economy (SE) of the Government.

The figure reached was 9 percent higher than that reported for the same period in 2023 when it reached 18,636 million dollars.

The Ministry of Economy also pointed out that 97 percent of this foreign investment, equivalent to about 19.6 billion dollars, was part of a reinvestment of profits, while 3 percent corresponded to new investments and the remaining 0 percent to loans. and payments between companies of the same corporate group.

In a statement, the agency indicated that as a result of “the country’s economic stability and the good business environment,” for the second consecutive year, the reinvestment of profits once again reached a new historical high, which “endorses the confidence of investors.” foreigners in the country with the aim of expanding, improving or transferring their production processes.”

Furthermore, this reconfiguration of FDI flows observed in the first quarter of 2024, “suggests an adequate degree of liquidity for companies to cover debts acquired abroad by obtaining loans,” said the SE,

It also states that making loans to companies belonging to its corporate group causes zero effect on investment inflows to the country, which is represented in intercompany accounts.

The note specified that FDI in the first quarter of the year came from 1,441 Mexican companies with the participation of foreign capital and 761 trust contracts.

The SE stated that of the FDI registered for the first quarter of 2024, 52 percent of investment flows come from the United States, which places it as the main investing country in Mexico.

The list was followed by Germany (9 percent), Canada (8 percent), Japan (7 percent) and Argentina (4 percent), among the first five countries, followed by Switzerland, South Korea, and the Netherlands. , Spain and Brazil.

The entity reported that 77 percent of the FDI received in this period was located in five Mexican entities, with Mexico City being the one with the largest capture, with 59 percent of the total investments, equivalent to 12 billion US dollars.

Next was Nuevo León, with 7 percent and 1.3 billion US dollars, followed by the state of Baja California, with 183 billion dollars, 5 percent of all registered investment. Next are Veracruz and Chihuahua, with 685 and 683 million dollars, respectively, that is, 3 percent.

By sectors, the Ministry of Economy detailed that 42 percent of the registered FDI is concentrated in the manufacturing sector, highlighting the industries of transportation equipment, beverages and tobacco, food, chemicals, metals, plastics and rubber, electrical energy generation equipment, computer equipment and paper industry.

TYT Newsroom

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