{{After decades of depending on inflows of foreign capital to develop its economy, Mexico turned a corner and become a net exporter of direct investment capital in 2012, according to a report released Monday.}}<\/p>\n
Mexico’s central bank said that Mexican corporations invested about $25.6 billion last year in buying up foreign plants and companies, more than twice the $12.6 foreigners invested directly in Mexican firms. <\/p>\n
An official confirmed that was the first time in recent memory that outflows exceeded inflows.<\/p>\n
For a country that still has one foot planted firmly in the developing world, that news worried some analysts and delighted others.<\/p>\n
“Mexico is in no position to become a net exporter of capital,” said economist Ernesto Piedras of the Mexico City-based Competitive Intelligence Unit. <\/p>\n
“Financing capital is a scarce resource in Mexico.”<\/p>\n
“Mexico is still a country with a strong need for capital, for investment in highways, dams, in telecommunications networks,” said Piedras. <\/p>\n
“It’s regrettable that we have more money going out than coming in.”<\/p>\n
The turnaround was due in part due to a steep drop in foreign investment in Mexico, from $21.5 billion in 2011 to $12.6 billion, accentuated by the decision by a Spanish bank to sell off about $4.1 billion in shares in its Mexican operations.<\/p>\n
But the numbers also show that Mexican firms more than doubled the amount they invested in buying assets abroad, up from $12.1 billion in 2011.<\/p>\n
Part of the increase was due to big purchases of European telecom and foreign oil assets by Mexican magnate Carlos Slim, considered the world’s richest man.<\/p>\n
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