FDI to Mexico totals $36.1 billion in 2023

Thursday, 15 February 2024 00:31:28 (GMT+3)   |   San Diego
       

Foreign direct investment (FDI) to Mexico totaled $36.1 billion in all of 2023, 2.2 percent more than in 2022, the Mexican government reported through the Ministry of Economy.

At a total of $18.1 billion, the manufacturing industry in Mexico was the largest magnet for FDI in 2023, concentrating 50.1 percent of the total. Internally, the steel industry was the third most important with $2.4 billion or 13.0 percent of the total manufacturing (6.5 percent of the total), only surpassed by the $2.5 billion of the beverage and tobacco industry and the $7.4 billion of the transportation equipment industry (automotive).

By country, with $13.6 billion, the United States remained in first place; that amount represented 37.8 percent of the total. The second place contributed 10.5 percent and was Spain, Canada contributed 9.6 percent and Japan with 8.1 percent. These countries plus Germany, Argentina, the United Kingdom and the Netherlands contributed $31.5 billion, a figure that represented 87.4 percent.

Without mentioning quantities, the Ministry mentioned the investments of companies such as Paccar and Toyota in Baja California; Nissan and Mercedes-Benz in Aguascalientes; Ford in the State of Mexico; General Motors in Mexico City; BMV and Borg Warner in San Luis Potosí; Ternium in Nuevo León, and Aptiv in Chihuahua, among others.

The FDI statistical data from the Ministry of Economy differs from the data from the Mexican central bank (Banxico). With data from the Bank of Mexico, the 2022 FDI was $36.3 billion and for the Economy it was $35.3 billion.


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