August 24, 2019
Latest News

ECLAC: FDI in Latin America up last year for 1st time since 2012

Santiago, Aug 14 (efe-epa).-Foreign direct investment in Latin America rose 13.2 percent in 2018, ending a five-year spell of FDI contraction, the Economic Commission for Latin America and the Caribbean (ECLAC) said in a report released Wednesday.

Nevertheless, the report said that "this recent growth is explained by just a few countries and by components of FDI that do not necessarily reflect a growing desire among foreign investors to set up new business in the region."

Flows of FDI to the region totaled $184.29 billion last year, a figure that is still below the values recorded during the height of the commodity boom, ECLAC said in a report that that United Nations regional organization's executive secretary, Alicia Barcena, presented at a press conference at ECLAC's headquarters in the Chilean capital.

The report showed a wide disparity in the region, with FDI inflows relative to 2017 increasing in 16 countries and decreasing in 15 countries.

Much of the increase in FDI last year was due to greater investment in Brazil and Mexico, which accounted for 48 percent and 20 percent of total inflows, respectively.

FDI flows to Brazil totaled $88.32 billion, up 25.7 percent from 2017, while FDI in Mexico last year amounted to $36.87 billion, up 15.2 percent, ECLAC said.

Argentina was the third-biggest recipient of FDI with inflows totaling $11.87 billion, up 3.1 percent from 2017, followed by Colombia ($11.35 billion, down 18 percent), Panama ($6.58 billion, up 36.3 percent) and Peru ($6.49 billion, down 5.4 percent).

FDI flows to Chile amounted to $6.08 billion in 2018, up 3.9 percent from the previous year, but still were clearly below the average registered in the last decade, ECLAC said.

FDI in Central America rose 9.4 percent in 2018 relative to the previous year due mainly to strong growth in Panama.

Flows of FDI to the Caribbean were down 11.4 percent due to a 29 percent drop in investment in the Dominican Republic, the main receiver in that subregion.

ECLAC said in its report that the overall growth in FDI does not mark a return to the region's boom years.

"Upon analyzing the different components of FDI, it can be seen that the dynamism regained in 2018 was not based on the entry of capital contributions, which would be the most representative source of companies' renewed interest in establishing themselves in the region's countries," the report titled "Foreign Direct Investment in Latin America and the Caribbean 2019" said.

Instead, it was based "on the growth in profit reinvestment and loans between companies."

Manufacturing was the main target sector of foreign capital, accounting for 47 percent of FDI inflows, followed by services at 35 percent and natural resources at 17 percent. EFE-EPA

gs/mc

News history
Russia launches world's only floating nuclear power plant

By Ignacio Ortega

Brazil must abide by EU-Mercosur deal's climate commitments, ambassador says

By Isadora Camargo

Australia vs US basketball match comes under probe scanner

Sydney, Australia, Aug 23 (efe-epa).- Australian authorities said Friday they would probe allegations that some basketball fans were duped into buying...

Bangkok backpackers' mecca to be revamped by Thai authorities

By Gaspar Ruiz-Canela.

US, Vietnam censure China for interfering in Hanoi’s territorial waters

Washington, Aug 22 (efe-epa).- The United States on Thursday accused China of interfering with Vietnam’s exclusive economic zone in the South China Sea and...

Brexit, US trade deal on Abe's agenda ahead of G7 summit

By Antonio Hermosín Gandul.

Mexican president: Legal sabotage being mounted against new airport

Mexico City, Aug 22 (efe-epa).- Mexican President Andres Manuel Lopez Obrador on Thursday complained that the political opposition has been engaging in...

Russia launches humanoid robot on a mission to Space Station

Moscow, Aug 21 (efe-epa).- Russia launched Thursday its first humanoid robot astronaut to the International Space Station in a critical test flight before...

Qantas to test 19-hour non-stop flight toll on passengers, crew

Sydney, Australia, Aug 22 (efe-epa).- Qantas is to test three approximately 19-hour ultra long-haul flights to see what toll they would take on passengers...

Qantas posts 17-percent drop in earnings

Sydney, Australia, Aug 22 (efe-epa).- Australian flag carrier Qantas posted a 17 percent drop in profit before tax owing to an increase in fuel costs and...

Air New Zealand reports earnings fell by 31 percent

Sydney, Australia, Aug 22 (efe-epa).- National airline Air New Zealand's annual earnings for the financial year 2019 fell by 31 percent due to rising fuel...

Nur-Sultan, Aug 21 (EFE).- The foreign ministers of the five Central Asian countries met here Wednesday with US Under Secretary of State David Hale to...

Bilateral deal reached on Mexican tomato exports to US

Mexico City, Aug 21 (efe-epa).- A bilateral agreement has been reached on Mexican tomato exports that will bring a halt to a United States anti-dumping...

Samsung at risk of losing its semiconductor leadership, says report

Seoul, Aug 21 (efe-epa).- Samsung is on its way to losing its leadership in semiconductor global sales to Intel, according to a leading semiconductor market...

Breathtaking spots offer tourists birdseye views of Uruguay's capital

By Sarah Yañez-Richards

Stabilizing peso is priority, Argentina's new finance minister says

Buenos Aires, Aug 20 (efe-epa).- New Finance Minister Hernan Lacunza said Tuesday that his main goal would be shoring up the Argentine peso, which has...

Butterfly wings could hold key to fighting forgery

By Snezana Stanojevic

Focus is on Macri's goals, Argentina's incoming finance minister says

Buenos Aires, Aug 19 (efe-epa).- Incoming Argentine Finance Minister Hernan Lacunza said Monday that he could not discuss the details of his meeting with...

US gives China's Huawei another 90-day reprieve on sanctions

Washington, Aug 19 (efe-epa).- Chinese tech giant Huawei Technologies on Monday criticized the sanctions imposed by the Donald Trump administration as being...

Iran faces the scourge of fuel smuggling

By Artemis Razmipour

China urges Trump to keep his word, allow business with Huawei in US

Beijing, Aug 19 (efe-epa).- Beijing on Monday urged Donald Trump to keep his word and allow companies in the United States to do business with Chinese tech...

Japan's trade deficit widened by 9.8 percent in July

Tokyo, Jul 19 (efe-epa).- Japan had a trade deficit of 249.6 billion yen ($2.35 billion) in July, a 9.8-percent increase compared to the same month last...

Trump acknowledges US' interest in buying Greenland from Denmark

Washington DC, Aug 18 (efe-epa).- The president of the United States on Sunday said that Greenland was strategically interesting for his country, although...

Trump defends China policy, says US economy is world's best

Washington, Aug 18 (efe-epa).- President Donald Trump on Sunday defended his strategy versus China, on whose goods Washington has imposed heavy tariffs as...

I agree Welcome to news4europe.eu. We use cookies to improve your online experience. Find out more.