Due to increased investor caution regarding changes in U.S. tariff policy, Foreign Direct Investment (FDI) inflows to Mexico totaled $43.221 billion , the third highest value since 1990, although this figure represented a 5% decrease, according to the Economic Commission for Latin America and the Caribbean (ECLAC) .

Reinvestment of profits was the largest component (64% of the total), despite a slight year-on-year decrease of 3.7%, and capital contributions grew in relation to what was received in 2024 (78.1%), the organization explained in the report “Foreign Direct Investment in Latin America and the Caribbean 2026: navigating the new global context” .

According to the study, services and manufacturing accounted for almost all FDI, with 59% and 36%, respectively.

In that sense, the services sector registered a marked increase of 60% in foreign capital inflows compared to 2024, while in manufacturing they decreased by 25.5%, after the pronounced increase they had experienced in 2023 and 2024.

“Investment in Mexico’s manufacturing industry , and particularly the automotive industry, has shown an upward trend over the last 20 years. In 2023 and 2024, a marked increase in investment was recorded, which was not sustained in 2025, and investment in the manufacture of transportation equipment fell by 31.3 percent. Nevertheless, with 46% of total manufacturing investment, the automotive sector remains the industry with the highest investment in the country, and the amount of investment in 2025 exceeds the average received during the 2010s,” he noted.

Meanwhile, the value of announced projects in Mexico totaled $25,075 million , representing a 43% reduction compared to 2024, but was in line with the average values ​​of the 2010s.

“The decrease was associated with less activity in sectors that have traditionally received large announcements, such as the automotive industry (-65%), communications (-76%) and the coal, oil and gas sector (-99.9%), which, after a record amount in 2024, had almost no announcements in 2025,” he stressed.

Despite the decline, some sectors saw an increase in announcements: in renewable energy, the US company Transition Industries announced a low-carbon methanol production project, while in the software and IT services sector, Tata Consultancy Services, an Indian firm, announced the opening of a new office that is estimated to employ five thousand people.

ECLAC stated that, to the extent that Mexico manages to scale up and improve its productive development policies, particularly through the efforts it has been making with the Mexico Plan , it will be able to take better advantage of opportunities to attract foreign capital.

FDI in Latin America and the Caribbean

As for Latin America and the Caribbean, the region attracted $194.233 billion, an increase of 1.7% year-on-year , although this increase occurred unevenly among countries and economic sectors.

“The structures and dynamics of FDI attraction within the region are very heterogeneous. Brazil and Mexico accounted for 62% of total inflows in 2025,” ECLAC noted.

According to the report, after Brazil and Mexico, the countries that received the most foreign capital were Chile, Peru, Colombia, Guyana, Costa Rica, and the Dominican Republic .

The agency indicated that reinvestment of profits represented 51% of FDI in the region; followed by capital contributions (34%) and intercompany loans (15%).

The analysis also highlighted that regional cross-border mergers and acquisitions saw a moderate uptick in 2025, centered on 351 deals, representing a year-on-year increase of 7.7 percent.

Meanwhile, 67% of the investment flow came from the United States and Europe, and he pointed out that last year 1,326 projects were announced for a total of $114.1 billion in the region.

“In the midst of a complex international scenario, characterized by the geopolitical context derived from the United States’ trade policy, investment announcements towards the region fell 34.3%,” he stated.

Given this scenario, ECLAC recommended diversifying export markets and investment origins , strengthening regional coordination spaces, and better preparing human capital to meet the economic challenges of the area.

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El cargo US tariffs hit foreign direct investment in Mexico: ECLAC apareció primero en T21.

Mexico has not fully capitalized on the opportunity created by nearshoring , despite the advantages offered by its trade integration with the United States and its position in North America, said Paulina Anciola, Deputy Director of Economic Studies at Banamex .

In an interview with T21, the specialist pointed out that, although investments associated with the relocation of production chains were registered after the COVID-19 pandemic , the phenomenon did not reach the magnitude that was expected a few years ago.

“In terms of nearshoring , I really think a large part of it remained just a narrative,” he stated.

Anciola acknowledged that these investments were made particularly in the Bajío region, where new centers were established. However, he noted that the realization of nearshoring has been less than expected, since in the last two years there has been practically no significant influx of new capital , and a large part of the Foreign Direct Investment (FDI) corresponds to reinvestment of profits from companies already established in Mexico.

In that regard, he explained that during the first years after the pandemic there was an expectation that Mexico would capture a significant portion of the investment that was looking to leave Asia and move closer to the US market.

However, he considered that the increase in global uncertainty ended up “cooling” some of those projects.

“When there is greater uncertainty, long-term investment tends to wait for conditions to be a little more favorable, for rates to be a little lower, and for the rules of the game to be clearer,” he explained.

The economist argued that the country maintains structural advantages that are difficult to replicate , particularly due to its proximity to the United States and its participation in the United States-Mexico-Canada Agreement (USMCA).

“At the end of the day, being on the side of the United States is going to stay there forever, and Mexico is going to have that advantage against the rest of the world forever,” he said.

However, he warned that the country continues to face challenges in terms of productivity, infrastructure, job training, and investment certainty.

“I think a large part of nearshoring has been lost because of that, and I think Mexico has been in the ‘now we are going to take advantage of the opportunity’ phase for many years, and in the end it has never fully materialized,” he stated.

According to Anciola, as long as there is no new wave of investment,  it will be difficult to talk about a consolidation of the phenomenon in Mexico.

According to the Ministry of Economy , FDI in Mexico reached a record figure of 23 billion 591 million dollars (mdd) in the first quarter of 2026 (1Q26), which meant a growth of 10.4% compared to the same period in 2025.

Of the total FDI, new investments increased 7.5% year-on-year in Q1 2026; while reinvestment of profits registered a year-on-year increase of 33.5% in the cycle.

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El cargo The materialization of nearshoring has been less than expected: Banamex apareció primero en T21.

Investment expectations in Mexico have not changed after the presentation of the Mexico Plan , stated Paulina Anciola, Deputy Director of Economic Studies at Banamex , considering that the strategy has not yet shown concrete results to trigger new productive projects .

The specialist explained that Banamex kept its economic projections for the country unchanged and currently forecasts a growth of 1.3% for 2026, above the consensus of analysts of 1.1% and the estimate of 0.8% from the Organization for Economic Cooperation and Development (OECD) .

“When the Mexico Plan came out, everyone was asking us: ‘Are you finally going to change your growth forecasts?’ The truth is, we didn’t make any changes,” he asserted.

Anciola pointed out that, although the strategy sets ambitious goals to boost investment and economic growth, there are still doubts about how they will be implemented and evaluated.

“We think that much of it remained just a very nice plan, with many good ideas and many metrics that would be good to achieve, but then it wasn’t followed up on. They didn’t explain how these goals are going to be met, how they are going to be implemented, or what indicators are going to be used to evaluate progress,” he commented.

The economist considered that one of the main obstacles to attracting capital continues to be the uncertainty perceived by investors in both the national and international environment.

“On the one hand they are telling you: ‘We have the Mexico Plan, we want to boost investment,’ but at the same time they have made a series of reforms that only increase regulatory uncertainty,” he stressed.

In his opinion, this situation has led many companies to adopt a cautious stance while they observe the evolution of the reforms and the economic environment.

“What we have seen in recent years is that investors seem to be in wait-and-see mode, waiting a bit to see how the reforms turn out,” he said.

He also emphasized that Foreign Direct Investment (FDI) announcements should be analyzed in greater detail. Although the overall figure was positive last year, Banamex observed a decline in FDI during the fourth quarter.

Furthermore, he explained that a large part of the reported resources correspond to reinvestment of profits from companies that already operate in Mexico and not necessarily to the arrival of new productive projects .

“When you break down the data, there are no new investments. Virtually all foreign investment is from the large companies that are already here,” he stated.

According to Anciola, as long as a new wave of investment is not observed and uncertainty persists, it will be difficult for Mexico to fully take advantage of the opportunities associated with the relocation of production chains.

“Until we see a wave of new investments, I don’t think we can say that it’s materializing,” he concluded, referring to nearshoring .

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El cargo Plan Mexico has not changed investment expectations: Banamex apareció primero en T21.

Mexico could have an economic growth of 1% in 2026 , which would mean a decrease from the 1.2% proposed by Grupo Financiero BASE in a previous review, as explained by Gabriela Siller, director of Economic Analysis of this institution.

In the webinar “Economic Outlook, GDP Estimate for the First Quarter of 2026” , the specialist considered that, in a pessimistic scenario, the country’s economic growth would be 0.60%, and in an optimistic environment it would advance 1.45%, derived from various factors, including the economic spillover from the World Cup.

The decline in the three groups of economic activities – primary, secondary and tertiary – which contributed to the 0.8% quarterly decrease in Gross Domestic Product (GDP) in the first quarter of 2026 (1Q26) gives signs of what he called a “stagnation trap” , caused by the weakening of institutions, increased informality, a drop in fixed investment and a decline in productivity.

“The quarterly drop in GDP was indeed sharp, and although we expect a rebound in the second quarter, this would be largely due to the World Cup, which we believe will add 0.15 percentage points to GDP through tourism and additional consumption,” he explained.

The analyst considered that the low growth of the Mexican economy is not a temporary situation, but a structural one , which is reflected in a high rate of informality in employment that, as of last March, stood at 54.85 percent.

Regarding private consumption , which is one of the indicators of GDP, Siller explained that in 2025 this sector closed with an increase of 1.20%, the lowest since 2020 during the COVID-19 pandemic. “This year consumption started off on the wrong foot, with a drop of 1.55% compared to December 2025.”

By 2026, the financial institution forecasts that private consumption will grow between 1.8% and 2.2% , driven by the World Cup and a greater number of tourists arriving in Mexico for the sporting event.

Gross fixed investment ( machinery and equipment for the production of goods and services) also declined at the start of 2026. According to figures presented by Siller, this indicator fell 14% compared to 2024, when it reached its historical peak. He noted that in 2025, gross fixed investment decreased by 6.5%, and the projection for 2026 is a further decline of 2%.

“There weren’t two consecutive years with declines, something we hadn’t seen since 2019, when Mexico was in a slight recession, and 2020 due to the pandemic,” he emphasized.

Regarding Foreign Direct Investment (FDI) in Mexico, he noted that although historical high levels have been reached, it should be considered that a large percentage has been for reinvestment.

At the close of 2025, Mexico received $40.871 billion in FDI, which represented a growth of 10.8% compared to the FDI received in 2024, when it was $36.872 billion, according to figures from the Ministry of Economy .

According to Siller, 67.65% of FDI in 2025 was for reinvestment of profits , 14.30% intercompany accounts , and 18.05% was for new investments .

Regarding the review of the United States-Mexico-Canada Agreement (USMCA) , the specialist said that, although there is a lot of uncertainty, “I think that in the end it will not end badly, unless there are political issues that stop this trade relationship.”

On another topic, he specified that since last year, computer equipment has been Mexico’s top export. “If this product hadn’t grown so much last year, at a rate of 144%, Mexican exports would have fallen by 0.54 percent.”

“But there are several risks. Computer equipment is not a long-term guarantee. To begin with, Mexico is not the main supplier of this product to the United States; that distinction belongs to Taiwan. In fact, for many months we were the main supplier, but Taiwan has now overtaken us. Taiwan accounts for 45% of total U.S. imports of this product, while Mexico accounts for 31%,” he stated.

According to the National Institute of Statistics and Geography (Inegi) , Mexican exports totaled 70 billion 727 million dollars (mdd) in March 2026 , a growth of 27.7% compared to the same month of 2025.

Regarding inflation, he estimated that it will close this year at 4.2 percent . “Inflation was already expected last year. The truth is that Mexico was fortunate with the reduction in non-core inflation, because we know that non-core inflation is very volatile; even more so if we add factors such as public insecurity in Mexico, which has reduced fruit and vegetable harvests, increasing their price. On the other hand, the increase in energy prices due to the war in Iran is also a latent threat; this has caused consumer inflation to rise in Mexico,” he emphasized.

It is worth remembering that inflation in Mexico stood at 4.59% at an annual rate in March 2026 , driven by a rise in agricultural products and services such as air transport, according to data from Inegi.

According to Banco BASE’s estimates, the Mexican economic outlook is not encouraging, although there are indicators showing a slow recovery that could improve the situation in the second quarter of the year.

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El cargo Banco BASE remains cautious regarding Mexico’s GDP growth outlook apareció primero en T21.

Marcelo Ebrard, head of the Ministry of Economy (SE) , highlighted that the investment portfolio in Mexico has been increased , rising from 367.9 billion dollars (USD) to 406.8 billion dollars, resulting from the integration of strategic projects identified by the investment promotion committees in the 32 federal entities.

During the First National Investment Promotion Meeting , held this Wednesday, he said that one of the objectives is the joint work of the private sector with the public sector, and highlighted that just over a year after the launch of the Mexico Plan , the country has positioned itself as the main exporter to the United States.

In that regard, he added that Mexico pays the lowest tariffs among the United States’ trading partners. Regarding the Economic Development Hubs for Well-being , of the 14 planned, he specified that seven are already under construction, four will begin construction in the coming weeks, and three more will be added to the project.

Regarding industrial property , Ebrard indicated that the federal government will reduce delivery times from five years to one. He also specified that Nacional Financiera (Nafin) and the National Foreign Trade Bank (Bancomext) will allocate resources for innovation projects during 2026.

For his part, José Medina Mora Icaza, president of the Business Coordinating Council (CCE) , highlighted the infrastructure investment announced on February 3 by the federal government, which includes 5.6 trillion pesos from 2026 to the end of the current six-year term, 772 billion pesos for this year, “where there are eight strategic sectors, a little more than half in energy, because energy is the spearhead, we need energy so that investment arrives in other sectors, but also investment in highways, in health, in hospitals, in education.”

He emphasized that Foreign Direct Investment (FDI) as of September 2025 totaled 41 billion dollars, “a figure more or less similar to all of 2024, with one big difference: in 2024 there was only 7% new investment, while in the ninth month of last year it was 15%; this means that foreign companies are trusting in our country, they are betting on investing in Mexico.”

Altagracia Gómez Sierra, coordinator of the Advisory Council for Economic, Regional, and Relocation Development, said that Mexico must accelerate projects and strengthen public-private coordination to reach the investment target equivalent to 25% of Gross Domestic Product (GDP) . She emphasized that the Mexico Plan presented a national vision that seeks to empower Mexico through industrial policy, planning, and collaboration among businesses, academia, and government authorities.

He recalled the work that has been done with various federal government agencies to reduce red tape, provide energy certainty, increase national content in public procurement and combat smuggling, and highlighted advances in economic and commercial matters such as tax incentives for relocation, deductibility for technical education, development of industrial parks, and investments in housing.

Meanwhile, Roberto Lazzeri Montaño, CEO of Nafin and Bancomext, said that development banks not only provide financing, but also multiply the impact of every peso invested.

In that context, he pointed out that Nafin and Bancomext, together with commercial banks, will boost financing for micro, small and medium-sized enterprises (MSMEs), with guarantees on loans of up to 20 million for priority sectors of the Mexico Plan, up to 80% for first-time loans and a reduction in factoring financing costs.

She also announced the reinstatement of the 32 constructive councils and the relaunch of three programs to reach areas currently underserved by the financial sector. She stated that they are promoting specific programs for women entrepreneurs , specifically “women exporters, provided that up to 51% of the capital is owned by women and they control the formal businesses and micro-businesses. Up to three million pesos for entrepreneurs, 30 million pesos for exporters, and up to 500,000 pesos for micro-businesses with at least one year of operation.”

Similarly, the Impulsora de Innovación México (Mexico Innovation Promoter ) announced a program that is an implementation tool of the Mexico Plan, which coordinates financing, technical support, and co-investment schemes to mobilize public and private capital towards strategic sectors and projects with high economic impact at the technological level, which will mobilize a total investment of 1.6 billion pesos.

Mexican President Claudia Sheinbaum emphasized the infrastructure investment she announced on February 3rd, “ which will allow us to boost investment in energy, highways, airports, ports, hospitals, and schools, enabling development with well-being .”

He also noted that on Wednesday he presented investments by Petróleos Mexicanos (Pemex) totaling 425 billion pesos. “ Pemex performed very well in 2025 thanks to various schemes that were also jointly developed between the Ministry of Energy and the Ministry of Finance and Public Credit (SHCP) . And this year, not only in oil but also in all aspects of oil processing and gas, we will boost investment in energy.”  

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El cargo Private sector and federal government highlight investments in Mexico apareció primero en T21.

In the webinar “Economic Outlook: GDP Estimate for the fourth quarter (4Q25)”, the analyst indicated that in a pessimistic scenario, GDP would be 0.6% by the end of this year , while in an optimistic projection it could be 1.4 percent.

The specialist explained that despite the challenges posed by tariffs and other issues, Mexico avoided a technical recession in 2025, although it did fall into what she called a “stagnation trap,” resulting from weakened institutions, increased informality, a drop in fixed investment, and a decline in productivity.

Regarding Foreign Direct Investment (FDI) , he warned that although the flow of foreign capital has reached historic levels, with 40,906 million dollars (USD) in the third quarter of 2025 (3Q25), an increase of 14.46% compared to the same period in 2024, a record based on reinvestment of profits is not the same as one driven by new projects .

According to the analysis, new investments represented only 16.05% of FDI between January and September of last year, while in 2022 it was 45 percent.

Of the FDI in Q3 2025, the manufacturing sector was the main destination with 37.13%, and the manufacture of transport equipment was the most important subsector with 19.93% of the total FDI; meanwhile, the production of computer equipment was 6.35 percent.

Siller explained that 79.78% of FDI from the United States was reinvested profits, while only 11.86% was new investment. He indicated that Mexico can find greater market share in computer exports, a segment that grew by 89.25% in the January-November period of 2025.

However, the director of Economic Analysis at Grupo Financiero BASE said that Mexico does not have the plant capacity to produce more of these devices in order to continue advancing in this market.

He noted that the country was, for 20 consecutive months, the main supplier of computer equipment, “then Taiwan won, then Mexico regained market share, but in 2026 it is very likely that Mexico will remain in second place,” he said.

“With all this, Mexico is the United States’ main trading partner and the main supplier of U.S. imports, which is good news. However, this leads us to something that could be a cause for concern regarding the review of the USMCA. China remains the country with which the United States has the largest trade deficit, at $189 billion, but Mexico is very close, and this figure has been narrowing by 2025. In fact, in October the difference was around $15 billion,” he explained.

Regarding private consumption , Siller reported that this indicator showed a growth of 0.58% until October of last year, the lowest since the COVID-19 pandemic in 2020, when it registered a drop of 10.67 percent.

According to estimates from the financial institution, remittances are also expected to plummet by around 20% this year, due to an aggressive immigration policy and the deteriorating job market in the United States.

Regarding employment , Siller specified that 2025 marked a turning point for the Mexican labor market, showing a decline.

“We saw that in total employment, 1,057,970 jobs were created, of which 1,161,926 were informal jobs, which means that in formal employment, jobs were actually destroyed (-103,956). This is something that has only been seen in periods of recession in Mexico,” Siller pointed out, according to his shared graphs.

He pointed out that the above was generated by the economic stagnation, since there are not enough incentives, such as a good salary or better benefits, for companies to hire from the formal sector.

According to the National Institute of Statistics and Geography (Inegi) , the informality rate rose from 54.27% in 2024 to 54.85% in 2025. “What does this mean? Well, it means that Mexico’s productivity fell, because the formal sector generated almost 75% of the total value of the economy, while the informal sector contributed 25%,” he emphasized.

Adding to this problem is the reduction in the number of employers , which totaled 1,029,280 last December. On an annual basis, this represents a drop of 25,667 employers, marking 18 consecutive months of decline.

USMCA Review

Regarding the USMCA, Siller stated that, according to various surveys conducted in the United States and in the US Congress itself, there is a trend indicating that they do want the trade agreement to continue, particularly Republicans, who are in favor of the USMCA.

He estimated that Canada would not withdraw from the treaty , although if that were to happen, it would not represent a concern for Mexico, “I think that this would even give it an opportunity to grow more, to obtain a greater market share.”

According to BASE estimates, Siller also ruled out the possibility of the United States withdrawing from the USMCA . “Furthermore, even if the United States were to withdraw from the trade agreement, trade between Mexico and the United States would not end.”

“What is very likely is that the review will become more of a renegotiation , but to the point that it won’t have to go through the United States Congress. They will want to make modifications to the rules of origin, the labor content, and the dispute resolution mechanism . Above all, we believe they will want to increase the rules of origin to 80%, and that there will be a transition period, just as there was from NAFTA (North American Free Trade Agreement) to the USMCA, but now that transition period will include tariffs until companies are fully compliant,” he explained.

It is worth remembering that Marcelo Ebrard, head of the  Ministry of Economy , and Jamieson Greer, United States Trade Representative (USTR) , held a meeting on January 28, in which they addressed a series of possible reforms to the trade agreement, including stricter rules of origin for key industrial goods.

El cargo The global economy would boost Mexico’s GDP, although there are challenges such as the USMCA: Banco BASE apareció primero en T21.

Foreign Direct Investment  (FDI) in the transportation, postal and storage sector in Mexico during the third quarter of 2025 (3Q25) registered a drop of 20.1% compared to the same period in 2024 (3Q24), according to data from the Ministry of Economy (SE) .

From July to September of this year, FDI focused on this industry totaled $1.9456 billion , representing 4.7% of the total accumulated FDI . In the same period of 2024, this sector registered $2.4374 billion, according to SE statistics.

So far this year, FDI inflows in the transport and logistics sector totaled $3,038.8 million, compared to $6,212.8 million in the first nine months of 2024, representing a decrease of 51 percent.

It is worth remembering that Mexico attracted $40.906 billion in FDI in Q3 2025 , a 15% increase compared to the same period in 2024, according to the federal agency.

According to the SE, the air transport subsector reached $20.7 million in the third quarter of 2025, which meant a decrease of 69% compared to 3Q24, when it was $66.8 million.

During the reporting period, rail transport showed a negative performance in terms of attracting FDI, which amounted to -$3.3 million. This subsector did not register any FDI during Q3 2024.

Water transport also declined. In the July-September period of this year, FDI attracted by this subsector was seven million dollars, a 54% decrease compared to the same period in 2024, when it totaled 15.2 million dollars.

During the cycle, pipeline transportation registered foreign capital flows of 1,615.9 million dollars, which represented a drop of 15.6% compared to the same period last year, when it reached 1,916.2 million dollars.

Transportation-related services also experienced a slowdown in attracting FDI. In Q3 2025, this subsector totaled $299.5 million, a 1.3% decrease from the $303.6 million it received in Q3 2024.

Meanwhile, FDI in courier and parcel services attracted $6.5 million compared to $132.9 million in the third quarter of 2024, representing a 95 percent reduction.

Other subsectors, such as  freight transport and postal services, registered zero FDI inflows in Q3 2025, while warehousing services attracted $1.9 million during the cycle.

Despite the decline in FDI inflows recorded in the transport, postal and warehousing sector in Mexico in the third quarter of 2025, the country’s logistics industry remains resilient , and has faced challenges such as road blockades and new tariff rates.

This sector facilitates the movement of goods, both within and outside the country, and helps companies to optimize processes, reduce costs, and increase efficiency.

According to the consulting firm Expert Market Research , the logistics market in Mexico is estimated to grow at a compound annual growth rate of 10.2% between 2025 and 2034, reaching a value of $3,044.59 million in 2034.

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El cargo Foreign Direct Investment in transport and logistics in Mexico weakens further in Q3 2025 apareció primero en T21.

After the rebound shown last October, manufacturing orders fell again in November 2025 on a monthly basis, the National Institute of Statistics and Geography (Inegi) and the Bank of Mexico (Banxico) announced this Tuesday .

The  Manufacturing Orders Indicator (IPM) stood at  48.3 units , a monthly decline of 4 points in November of this year.

The IPM, which presents the expectations and perception of business executives on the performance of the manufacturing sector in Mexico, also registered negative figures in its annual measurement, with a decrease of 2.7 points .

Within the IPM, monthly declines were recorded in four of the five components that make it up .

In November 2025, raw material inventories saw the largest decline , falling 8.8 units compared to the previous October. This was followed by production , with a drop of 7.4 points.  Orders  showed a decrease of 2.9 units month-on-month, and total employment fell 0.8 points during the period.

Timeliness in the delivery of supplies from providers  was the only indicator that registered progress, with an increase of 0.3 units in the eleventh month of the year in its monthly measurement.

By the subsector groups that make up the IPM, those showing the greatest year-on-year declines were petroleum and coal derivatives, the chemical industry, and the plastics and rubber industry , with 12.9 points. This was followed by food, beverages, and tobacco , with 1.3 points; computer equipment, electronic accessories, and electrical appliances , with a decrease of 1.1 points; and textiles, clothing, leather and hides, wood, paper, and other industries , with a decrease of 0.3 points.

Despite a decline in the IPM last November, the Mexican manufacturing industry remains one of the main activities attracting Foreign Direct Investment , receiving 37.1% of foreign capital in the third quarter of 2025 , according to the  Ministry of Economy .

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El cargo Manufacturing Orders Indicator falls in November apareció primero en T21.

Amid the tariff policy promoted by the United States, the Mexican manufacturing industry continues to register advances, according to the Monthly Indicator of Manufacturing Activity (IMOAM) , prepared by the  National Institute of Statistics and Geography (Inegi) .

In October 2025, Inegi anticipated a slight rebound in manufacturing activity of 0.1% compared to the same month last year.

In the tenth month of the year, according to information from Inegi, this indicator showed a value of 111.3 points .

According to figures released by IMOAM on Monday, the manufacturing sector has shown resilience in the face of global trade changes and remains an attractive industry for attracting Foreign Direct Investment (FDI).

According to data from the Ministry of Economy (SE) , Mexico attracted 40 billion 906 million dollars (mdd) of FDI during the third quarter of 2025 (3Q25), a 15% increase compared to the same cycle in 2024.

Of that total, manufacturing accounted for 37.1% of FDI , followed by financial services with 25.1%, construction with 5%; and transport, mail and storage with 4.8%, although reinvestments continue to be the main driver of foreign capital flows in Mexico, with a share of 68 percent.

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El cargo Mexican manufacturing activity is expected to advance in October apareció primero en T21.

Mexico attracted $40.906 billion in Foreign Direct Investment (FDI) during the third quarter of 2025 (3Q25) , a 15% increase compared to the same period in 2024, announced Marcelo Ebrard, head of the Ministry of Economy (SE) , who considered the figure reached in the period a new record .

“We are going to reach almost 41 billion dollars, that’s what we have this last quarter. If we compare it to 2024, it grew 15%,” Ebrard highlighted at the morning press conference this Wednesday.

This pace of FDI, he explained, “means that investors from all over the world are deciding to invest in Mexico in a greater proportion than we had even expected.”

Of the total FDI in the period, the federal official highlighted that new investments were the area that showed the greatest dynamism in the cycle, going from two billion dollars to six billion five hundred million dollars .

“New investments in a country. That is, they are not reinvestments, but new investments,” he emphasized, adding that the sectors that will benefit are energy, data centers, infrastructure projects, and the financial sector.

Meanwhile, manufacturing accounted for 37.1% of total FDI, followed by financial services with 25.1%, construction with 5%; and transportation, postal and storage services with 4.8%, according to figures presented by Ebrard.

According to SE data, as of the third quarter of 2025, reinvestment of profits accounted for 68%, new investments for 16%, and intercompany accounts for 16%.

The United States accounted for 39.46% of total investment flows, confirming its strategic importance as Mexico’s main investment partner. It was followed by Spain with 14.09%, Japan with 7.05%, the Netherlands with 6.31%, and Canada with 5.61%.

By state, Mexico City remains the top destination for foreign investment, accounting for 55.77% of the total. It was followed by Nuevo León with 10.15%, the State of Mexico with 7.74%, Baja California with 4.36%, and Coahuila with 2.88% as of Q3 2025.

From 2018 to 2025, foreign direct investment in Mexico has grown by 69%, the Secretary of Economy pointed out, emphasizing that this represents “constant growth, but it is accelerating.”

He explained that the figure reached in the period means that investors have confidence in the Mexican government and consolidates a trend of growth in FDI in the country, since good results were also obtained in the previous quarter, with an FDI of 34 billion 265 million dollars .

Ebrard also reported that Mexican exports continue to rise , despite an adverse economic and geopolitical environment, framed by the United States’ tariff policy.

In that regard, he indicated that shipments of goods abroad grew 48% from 2020 to 2024 , going from 417 billion dollars to 617 billion dollars , with an annual growth rate of 10.5% in the reference period.

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