Mexico captured 35.732 billion dollars in Foreign Direct Investment (FDI) from January to September 2024, informed Marcelo Ebrard, Secretary of Economy.

This amount represents a growth of 8.5% compared to the preliminary result for the same period in 2023.

The official projected that FDI arrivals to Mexico for all of 2024 will be 38.172 billion dollars, which implies a record.

Through the second quarter of 2024, FDI inflows to Mexico grew at a year-on-year rate of 7.2% to US$31.1 billion in the first half of 2024.

This implies that in the third quarter of 2024 Mexico attracted US$4.632 billion of FDI and is expected to receive another US$2.440 billion in the fourth quarter.

The year-on-year comparison is based on preliminary information, since, as usual with this statistic, the data will be adjusted when there is more information on the operations of the corresponding period.

Ebrard pointed out that over the last six years, Mexican exports to the United States have grown 39% cumulatively.

In the first half of this year, the United States remained Mexico's main investment partner, accounting for 44% of total FDI flows, according to data from the Ministry of Economy.

After a slight contraction at the end of 2023 and a marginal expansion during the first quarter of 2024, the Mexican economy registered modest growth during the second quarter of 2024.

As a result, projections for Mexico's economic performance for the full year 2024 and beyond have been adjusted downward, mainly explained by a more moderate expected contribution from private investment and lower anticipated growth in U.S. manufacturing activity, which are expected to affect Mexico's economic performance for the year.

Then, the Mexican economy grew 1.5% year-over-year during the third quarter of 2024, in real terms and seasonally adjusted figures, exceeding market expectations and breaking a streak of seven consecutive quarters of deceleration.

In this last quarter, the external sector made a positive contribution to Mexico's economic growth, driven by the increase in manufacturing exports. According to the Bank of Mexico, this performance was favored by the greater competitiveness of the Mexican peso and the increase in external demand. As a result, the country maintained its position as the main trading partner of the United States, representing 16% of total U.S. trade.

Gross fixed investment registered a year-on-year growth of 6.8% during the first eight months of 2024.