Mexico's third quarter balance of payments statistics report that foreigners continued to pour money into Mexican financial instruments. Of the US$15.26 billion foreigners invested, almost all (US$14.04 billion) went into peso-denominated money market obligations; equities were the home of the remaining US$1.22 billion.
In the first nine months of this year, foreigners invested US$33.65 billion in money market obligations and US$4.01 billion in Mexican equities. To put the numbers in perspective, portfolio investment in the first nine months of 2012 was greater than foreign direct investment has ever been in any single year. Between January and September of this year, portfolio investment was 6.5% more than crude oil export revenues.
If there had been no portfolio investment this year, there wouldn't have been a capital account surplus. If that money were to flee abruptly....
In the first nine months of this year, foreigners invested US$33.65 billion in money market obligations and US$4.01 billion in Mexican equities. To put the numbers in perspective, portfolio investment in the first nine months of 2012 was greater than foreign direct investment has ever been in any single year. Between January and September of this year, portfolio investment was 6.5% more than crude oil export revenues.
If there had been no portfolio investment this year, there wouldn't have been a capital account surplus. If that money were to flee abruptly....
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