In addition, Foreign Direct Investment also grew, according to Comce.
The Mexican economy improved its position from 13th to 9th in the world ranking of exports, while in Foreign Direct Investment (FDI) it improved from 12th to 9th, said the Mexican Business Council for Foreign Trade, Investment and Technology (Comce).
That place “places Mexico as a leader in the international economic panorama” and Mexican exports are expected to grow 3% and Foreign Direct Investment to increase 8%, compared to the previous year.
Official figures show that from January to March 2024, the foreign capital that arrived in the Mexican economy was 20.3 billion US dollars.
By 2024, it is expected that Comce can reach an amount of 39 billion dollars, which “underlines the confidence and commitment of international investors in the economic potential and stability of Mexico; especially in the context of nearshoring.”
Regarding exports, Comce estimates that by 2024 they can reach an amount of 610 billion dollars, which will be a record figure in the history of the indicator.
“This significant increase in exports is mainly due to the dynamism of the manufacturing sector; being mainly from the automotive and auto parts industry,” said the Council.
The executive vice president of Comce Sergio Contreras declared: “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 investment destination,” Contreras concluded.
Source: El Diario de Coahuila
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