The Mexican Business Council for Foreign Trade, Investment and Technology (Comce) projected this Thursday that in 2024 Mexico will experience annual increases of 3% in its product exports and 8% in the attraction of Foreign Direct Investment (FDI).
In the second indicator, Mexico received 36,058 million dollars in Foreign Direct Investment (FDI) in 2023, which represents an increase of 2.3% annually.
These results led Mexico to reach historic positions, rising to ninth place in both global exports and FDI destinations.
According to data from the Ministry of Economy, in the period from January to March 2024, FDI in Mexico was 20,313 million dollars, distributed in accounts between companies (98.6 million dollars), new investments (599 million dollars ) and reinvestment of profits (19,615 million dollars).
Regarding Comce’s projections, it is expected that Mexico can reach an FDI inflow for an amount of 39,000 million dollars in 2024.
This flow of capital underlines the confidence and commitment of international investors in the economic potential and stability of Mexico, especially in the framework of nearshoring (relocation), said Comce in a press release.
Likewise, Comce predicts that exports will reach a record figure of 610,000 million dollars in 2024.
This notable increase in exports is mainly attributed to the dynamism of the manufacturing sector, highlighting the automotive and auto parts industry.
“We are witnessing a historic moment for Mexico in the field of international trade and investment, thanks to nearshoring. Mexico’s rise in these global indicators is a clear sign of the importance of the country as an export power and as a global FDI destination,” said Sergio Contreras, executive vice president of Comce.
