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LatinNews Daily - 19 February 2021

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In brief: FDI to Mexico slumps in 2020

* Mexico’s economy ministry (SE) has released new figures which show foreign direct investment (FDI) to Mexico totalled US$29bn in 2020, an 11.7% drop on the amount received in 2019. The SE attributes the slump to the negative impact of the coronavirus (Covid-19) pandemic on investment flows globally. It cites the World Investment Report published in 2021 by the United Nations Conference on Trade and Development (UNCTAD), which estimates that in 2020 global FDI flows were down 42% compared with 2019. According to the SE report, manufacturing accounted for 40.6% of total FDI into Mexico in 2020; financial services & insurance, 23.2%; transport, 9.8%; trade, 7.7%; mining, 4.6%; and mass media, 4.3%, with other sectors accounting for the remainder. As regards the main source countries, the US was the source of 39.1% of total FDI received in 2020, followed by Canada (14.5%); Spain (13.7%); Japan (4.2%); and Germany (3.5%).