FDI to Mexico totals $32.9 billion in Jan-Sept 2023

Thursday, 09 November 2023 23:13:47 (GMT+3)   |   San Diego

Foreign direct investment (FDI) to Mexico totaled $32.9 billion in the first nine months of the year, 2.4 percent more compared to the January-September period of last year, the Ministry of Economy reported in a statement with preliminary data. The steel industry chain continues to attract foreign capital.

The FDI statistical data of the Ministry of Economy differs with the data of the Mexican central bank (Banxico). With data from the Bank of Mexico, the FDI accumulated as of September decreased 4.8 percent compared to the $34.6 billion in the Jan-Sep 2022 period.

According to Economía, 82.4 percent of FDI came from six countries: the United States (41.1 percent), Spain (11.3 percent), Germany (8.5 percent), Argentina (7.5 percent) and Japan (7.3 percent). By industry, manufacturing continues to be the great investment magnet with $17.5 billion, a figure that represents 53 percent of the total.

Within the manufacturing industry, the industry aimed at the production of transportation equipment (automotive industry) captured around $7.7 billion and the industry related to the steel industry captured around $2.5 billion in the first nine months of 2023, according to SteelOrbis calculations with the information from the Ministry of Economy.

Without mentioning quantities, Economía mentioned the investments of Ternium, Toyota, Paccar, Lear, Whirlpool, General Motors, Ford, Mercedes-Benz, Audi, Volkswagen, among others. By entity, 57.5 percent was concentrated in five states: Ciudad de México (32.1 percent), Nuevo León (8.6 percent), Sonora (7.7 percent), Chihuahua (4.6 percent) and the Estado de México (4.5 percent).

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