Mexico attracted a record US $40.87 billion in foreign direct investment (FDI) in 2025, a 10.8% year-on-year increase, the Economy Ministry (SE) reported on Wednesday.

In a press release, the SE said the growth — based on originally published figures — reflects a growth trend for the fifth consecutive year.

“Mexico is positioning itself as a strategic destination for global productive capital, in an environment in which FDI flows to developing economies showed a 2% drop in 2025,” it said.

The data indicates the United States remained Mexico’s principal investment partner, generating FDI flows of US $15.88 billion, 38.8% of the total.

Spain ranked second at US $4.4 billion (10.8%) with Canada (US $3.3 billion, 8.1% ), the Netherlands (US $2.4 billion, or 5.8%) and Japan (US $2.3 billion, or 5.6%) filling out the rest of the top 5.

The SE reported that reinvestment of profits registered the largest share of FDI flows entering Mexico in 2025 — nearly 68% — followed by new investments (18%), and intercompany accounts (14.3%).

New investments grew nearly 133%, to US $7.38 billion in 2025, providing the biggest bounce to the total FDI flow.

The SE described the performance of new investments last year  as “entailing a greater capacity for Mexico to attract new capital that can promote the adoption of cutting-edge technologies and productivity growth in the national industry.”

The reinvestment of profits contracted slightly, falling 3.7% from US $28.7 billion to US $27.6 billion, which the SE attributed to a greater distribution of dividends.  

As for intercompany accounts, they registered annualized growth of 17%, rising from US $4.99 billion in 2024 to US $5.8 billion in 2025. The SE said this is associated with the dynamics of capital reorganization in corporate groups.

Intercompany accounts are transactions originating from debts between Mexican companies that hold FDI in their share capital and associated companies abroad.

Once again, Mexico City was the top destination for FDI in 2025, receiving US $22.38 billion, roughly 55% of the total. This represented a 55% increase over 2024.

Second place went to Nuevo León, which received US $3.63 billion, or 8.9% of the total and a nearly 73% increase compared to last year.

México state ranked third, receiving US $3.28 billion, or 8%, a 24% year-on-year improvement. 

With reports from El Economista, El Financiero, La Jornada and El País