Foreign direct investment in Mexico goes down

By IANS/EFE,

Mexico City : Mexico attracted a total of $10.6 billion in foreign direct investment in the first half of 2011, 13.3 percent less than in the same period of 2010, the Economy Secretariat said Wednesday.


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The FDI that entered Mexico during the first six months of 2011 came from a total of 2,742 companies, the secretariat said in a statement.

The manufacturing sector accounted for the largest proportion of the total, 37.7 percent; followed by financial services and insurance, 21.5 percent; and commerce, 13.8 percent.

By country, the main sources of FDI were the US, with 74.1 percent of the total; Switzerland, 11.7 percent; Spain, 8.5 percent; and France, 1.4 percent.

Reinvested profits accounted for nearly 57 percent of first-half FDI, or roughly $6.03 billion, while new investments and inter-company accounts represented 31.8 percent and 11.4 percent of the total, respectively.

All of the FDI data released Wednesday is preliminary and may subsequently be revised by the companies.

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