Automotive and plastics industries drove FDI in Querétaro

QUERETARO - Most of the Foreign Direct Investment (FDI) that the state received from January to September 2024 was capital destined for the manufacturing industry, particularly for the automotive and plastics branches.

Of the US$994.5 million of FDI that entered the state in those months, 69.8% (US$694.2 million) corresponds to the manufacturing industry, which continues to be the main catalyst for foreign investment, according to the records of the Ministry of Economy.

In terms of the branches that attracted the most FDI, the manufacture of parts for motor vehicles, which belongs to the manufacturing industries, was the main recipient, attracting US$318.8 million in the first nine months of the year, representing 45.9% of manufacturing investment, as well as 32.1% of the total FDI received by the state.

Then, in second place, was FDI in the manufacture of plastic products, which concentrated US$265.3 million, representing 38.2% of manufacturing FDI, as well as 26.7% of the total foreign investment received by the state.

The third branch with the highest FDI is the manufacture of automobiles and trucks, which attracted US$85.2 million; followed by the manufacture of sugars, chocolates, candies and similar products, which received US$48.3 million; also, the milling of grains and seeds and the production of oils and fats, which added US$42.6 million.

With the accumulated FDI between 2006 and September 2024, the state has received US$18.2 billion in total investment, with manufacturing being the main component since it concentrates 62.1% of that amount, that is, US$11.3 billion.

After manufacturing investment, we find the financial and insurance services sector; the transportation, post and warehousing sector, among others.