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Latino Daily News

Sunday August 24, 2014

Mexican Government Says FDI Fell 59 Percent

Mexican Government Says FDI Fell 59 Percent

Photo: Mexican economy

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Foreign direct investment (FDI) in Mexico totaled $9.73 billion in the first half of this year, down 59 percent compared to the same period in 2013, the Economy Secretariat said.

The figure for the first half of this year “includes an atypical transaction observed during the second quarter, which consisted of the purchase of shares by Mexican investors in the America Movil company worth $4.49 billion,” the secretariat said.

The transaction was accounted for statistically as a foreign investment transfer to Mexicans, the secretariat said in a statement.

The preliminary FDI number for the first half of 2013 was $23.84 billion, a figure that was also based on an atypical transaction, the sale of stock in Mexico’s Grupo Modelo to foreign investors for $13.24 billion, the secretariat said.

“The sum of $9.73 billion reported for the first half of 2014 is 59 percent below the preliminary figure reported for the same period in 2013,” the secretariat said.

“If the two transactions noted had not occurred, one that transferred investment from Mexicans to foreigners in 2013 and another due to the acquisition by Mexicans of shares from foreigners in 2014, FDI during the first half of this year would have been up 34 percent from the same period last year,” the Economy Secretariat said.

FDI in the first half of this year came from 2,582 foreign corporations, the secretariat said, adding that manufacturing was the biggest recipient, drawing $6.98 billion in foreign capital.

The biggest sources of FDI were Spain, with $2.54 billion; the Netherlands, with $1.95 billion; Belgium, with $1.26 billion; the United States, with $1 billion; and Japan, with $696 million.

A total of $2.27 billion was received from 68 other countries, the secretariat said.

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