25 | JUN | 2019
Foreign investment grows 20% in Mexico
The investments were mostly destined to the manufacturing sector, which received USD$3,344 million (around 35.2%) - Photo: Beawiharta/REUTERS

Foreign investment grows 20% in Mexico

22/05/2018
20:02
Ivette Saldaña
Mexico City
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The foreign capital received during the present administration has mounted up to USD$181,793 million

Mexico received USD$9,502 million in Direct Foreign Investment (IED), on the first quarter of 2018, making an increase of 19.6% compared to the previous year, which showed an investment of USD$7,945 million, according to the National Record of Foreign Investment of the Ministry of Economy.

With this figure, the foreign capital received during the present six-year term mounted up to USD$181,793 million, which surpasses the six-year goal by 15.4%, according to the National Plan for Development of the current administration.

Out of the amount received during the months of January and March of this year, only 14.4% corresponded to new investments in the country, making up a total of barely USD$1,330 million. Most of these were utility reinvestments, which represented USD$7,297 million. USD$836 million were related to bank accounts between different companies.

As usual, the investments were mostly destined to the manufacturing sector, which received USD$3,344 million (around 35.2%).

The second most-attractive sector for foreign investment in Mexico during the first quarter were financial services, to which USD$2,831 million were destined (29.8%)

The third sector to attract foreign capital was the mining sector with 7.1% (around 675 million dollars). The commercial sector was on fourth place, with 6.9% (655 million dollars), and construction on fifth, with 6% (570 million dollars).

Most of the investment came from the US, in spite of the recent NAFTA renegotiations. The United States invested a total of USD$4,143 million dollars (43.6%), while Canadian investment was of USD$817 million (8.6%), followed by investments from Spain, which mounted up to USD$1,777 million (18.6%). Australia and the Netherlands were also major investors in Mexico during the first quarter of 2018.

The 9,502 million dollars received from January to March of 2018 were the result of investments from 533 companies with a flow of foreign capital. And although 11,480 million dollars of foreign capital were received, USD$1,978 million made their way back out of the country.

Through a press release, the Ministry of Economy explained that the cumulative volume of foreign investment during this six-year term is 52.3% larger than the value reported six years ago when USD$119,387 million were received.

The Federal Government, through the Secretary of Economy Ildefonso Guajardo, had promised that, as a result of the recent structural reforms in Mexico, at least USD$30,000 million dollars would be received annually. A number that has been reached since the implementation of the reforms.

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