Who Provided the Capital?: Countries with the Largest Foreign Investment in Mexico (2025)

Foreign Direct Investment (FDI) in Mexico closed 2025 with a cumulative flow of $40.871 billion (USD), the highest annual figure ever recorded. This data, confirmed by the Secretariat of Economy, represents a 10.8% growth compared to the figure originally published at the end of 2024 and consolidates five consecutive years of expansion. This outcome occurs in a distinct international context. According to estimates by UN Trade and Development (UNCTAD), FDI flows to developing economies decreased by 2% in 2025. In contrast, Mexico increased its intake.

67.7% was Reinvestment of Earnings: Capital Composition in 2025

Of the total capital received, reinvestment of earnings accounted for $27.650 billion USD, equivalent to 67.7% of the total flow. However, this component registered a slight annual contraction of -3.7% when compared to the $28.710 billion USD reported in 2024. This variation was due to a higher distribution of dividends.

In second place, new investments reached $7.378 billion USD, representing 18% of the total. This segment showed the greatest annual momentum, with a growth of 132.9%, compared to $3.168 billion USD in the previous year.

Meanwhile, intercompany accounts totaled $5.844 billion USD, equivalent to 14.3% of the total flow. This component increased by 17% annually, compared to the $4.994 billion USD recorded in 2024.

The structure indicates that most of the capital originated from operations of companies already established in the country, while new investments increased their relative weight compared to the previous year.

Fourth Quarter with Negative Flow, but Marginal Adjustment of -$35 Million USD

During the fourth quarter of 2025, a negative flow of $5.026 billion USD was recorded. The Secretariat of Economy clarified that this variation was associated with dividend payments and financial transactions between Mexican companies and their foreign affiliates.

This behavior did not imply investment cancellations. Furthermore, it was offset by new FDI notifications materialized in the first three quarters of the year, which totaled $4.991 billion USD. Consequently, the net adjustment at year-end was a negative balance of $35 million USD compared to what was reported in the third quarter, without modifying the annual record level.

5 States Concentrate 80.2% of National FDI

Capital reception showed a marked territorial concentration. The states with the highest capital reception were: -Mexico City-

-State of Mexico-Baja California-Baja California Sur Collectively, these five states concentrated 80.2% of the national total in 2025.

Which Countries Led Foreign Investment in Mexico in 2025?

Regarding the origin of capital, the United States remained the primary investor partner, with $15.877 billion USD, equivalent to 38.8% of the total.

Spain followed, with $4.431 billion USD (10.8%). Subsequently ranked were: -Canada, with $3.323 billion USD (8.1%) -Netherlands, with $2.387 billion USD (5.8%) -Japan, with $2.293 billion USD (5.6%) The top five economies of origin concentrated 69.1% of the total flow.

If the United States and Canada are grouped, the North American region accounted for 46.9% of the FDI received in 2025, maintaining the region as the main investment hub for Mexico.

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first appeared on Líder Empresarial.