The peso is the top performing major currency this year, according to Bloomberg, and has more than recovered from its coronavirus pandemic weakness. It has risen 8.5 per cent this year to trade above 18 to the dollar… Foreign direct investment in Mexico hit $35.3bn last year, the highest level since 2015, according to economy
The post Mexico facts of the day appeared first on Marginal REVOLUTION.
The peso is the top performing major currency this year, according to Bloomberg, and has more than recovered from its coronavirus pandemic weakness. It has risen 8.5 per cent this year to trade above 18 to the dollar…
Foreign direct investment in Mexico hit $35.3bn last year, the highest level since 2015, according to economy ministry data. Transport manufacturing accounted for 12 per cent of that.
Another source of foreign income has been resilient remittances from Mexican migrants in the US. The transfers from abroad now make up 4 per cent of the country’s gross domestic product. Even after growing to record levels last year, in January remittances were 12.5 per cent higher than the same month a year earlier, according to Bank of Mexico figures.
That all said, the forecast growth rate for this year is only 1.2 percent. Here is more from the FT.
The post Mexico facts of the day appeared first on Marginal REVOLUTION.
Uncategorized