Mexico City – Mexico is experiencing an unprecedented surge in foreign investment, President Andrés Manuel López Obrador (AMLO) announced. In a recent press conference, he highlighted that Foreign Direct Investment (FDI) reached $20.3 billion USD in the first quarter of 2024, setting the stage for a year-end total that could surpass the $36.1 billion achieved in 2023.
President López Obrador reassured that there is nothing to worry about, emphasizing Mexico’s exceptional economic situation. “The amount of foreign investment coming to Mexico is historic, like never before. To put it very clearly: there is nothing to worry about; Mexico is in an exceptional situation and foreign investment will continue to arrive,” he said.
AMLO attributed 52% of the FDI to the United States and Canada, crediting the United States-Mexico-Canada Agreement (USMCA). This agreement facilitates nearshoring, allowing companies to move production closer to consumers, cutting costs and risks.
The president noted Mexico’s position as the United States’ main trading partner, with the Mexican economy ranking 12th globally and being the ninth-largest exporter. In 2023, Mexican exports hit a record $508 million, showcasing the country’s economic strength.
Key export sectors include tractor-trailers, beer, avocado, tomato, and strawberries, where Mexico ranks first. Additionally, Mexico ranks fourth in heavy vehicles, sixth in light vehicles, and tenth in electrical and electronic goods.
President López Obrador also stressed the importance of domestic market growth, driven by public investment in infrastructure projects. These projects generate thousands of well-paid jobs, benefiting the population and further strengthening the economy.
