Mexico Reports Significant Increase in Foreign Direct Investment for 2024

Mexico has recorded a substantial rise in foreign direct investment (FDI) during the first eight months of 2024, with figures reaching $59.449 billion.

This development marks a notable increase in the country’s ability to attract international capital. According to the 2024 Economic Balance: Industry, Commerce, and Investments report, Mexico‘s FDI inflow has shown considerable growth.

By the second quarter of 2024, the country had secured $31.096 billion in FDI, approaching the total 2023 figure of $36.058 billion.

The manufacturing sector has emerged as the primary recipient of these investments, accounting for 54% of the total. This concentration reflects the sector’s importance in Mexico’s economic landscape.

Regional Distribution

Nuevo León has positioned itself as a significant recipient of foreign investment, ranking behind the capital second among Mexican states in FDI attraction.

From January 2023 to June 2024, the state received $4.857 billion, constituting 7.2% of Mexico’s total FDI during this period.

However, the influx of foreign capital is expected to generate substantial employment opportunities. Projections suggest the creation of up to 316,000 direct jobs across the country.

The United States and Canada continue to be major sources of investment. Of the 567 investment announcements identified between 2023 and August 2024, 41% originated from these North American countries.

Future Projections

The Mexican Council for Foreign Trade, Investment, and Technology (Comce) has projected an additional $48 billion in FDI over the next two to three years. This projection is largely attributed to nearshoring trends.

Sergio Contreras, Comce’s president, highlighted Mexico’s “quality exports” as a key factor attracting investors, alongside geographical proximity to the U.S. and existing trade agreements.

In addition, the increase in FDI figures for 2024 indicates a positive trend in Mexico’s economic landscape.

As the country continues to attract international investment, particularly in the manufacturing sector, it strengthens its position in the global economy.