Mexico captures US$18.636 billion in foreign investment in the first quarter of 2023

Mexico received US$18.636 billion in Foreign Direct Investment (FDI) in the first quarter of 2023, with the bulk of the resources directed to the manufacturing sector, the Ministry of Economy informed today.

The figure is 48 percent higher than the FDI received in the same period last year if the US$ 6.8 billion received for the extraordinary operations of the merger of Mexican media giant Grupo Televisa with its Spanish-speaking US partner Univision Holdings Inc. and the restructuring of local airline Aeromexico are discounted.

Without the discount, the amount of FDI captured by Mexico between January and March 2022 amounted to US$19.4 billion, a record amount for a similar period, records show.

“The behavior observed in the first quarter of 2023 represents the confidence of investors to maintain and expand their investments in the country,” the portfolio said.

During the first three months of this year, FDI registered in Mexico came mainly from the United States, Spain, Argentina, the Netherlands, Germany, Canada, the United Kingdom, Switzerland, Japan, and Brazil.

He added that fifty-three percent of the resources were concentrated in the manufacturing sector, while 33 percent went to financial services.

The rest of the flows went to transportation, post and storage, construction, mining, retail, and wholesale trade.

FDI is one of the country’s main sources of foreign exchange, along with oil exports, remittances, and tourism inflows.

Mexico’s economy, the second largest in Latin America after Brazil, grew by 3.1 percent in 2022, down from the 4.7 percent expansion the previous year.

Mexico news, English news Mexico, FDI Mexico, economic news Mexico

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error