The chief economist at Banco Base, Gabriela Siller, explained: "The last time something similar happened was between December 2020 and August 2021, when nine consecutive months of exits were recorded for a total of 236,790.47 million pesos, in a context marked by global risk aversion during the pandemic."
Consumption gives growth a respite while investment continues to fall.
This year's behavior is once again raising cautionary signals.
In October, foreign investors withdrew 43,641 million pesos from Mexican government securities.
Among the external factors, the uncertainty generated by Donald Trump's tariff threats and conflicts in the Middle East stand out, which increase global risk and cause investors to move away from emerging economies like Mexico's.
Although it is not a massive withdrawal, it does reflect a deterioration in investors' appetite for Mexican debt and a less favorable environment for attracting financial flows.
The director of the consulting firm Expertos en la economía mexicana, Alejandro Gómez, pointed out that the country needs greater clarity to retain and attract investment.
According to the consulting firm, the capital outflow responds to both internal and external factors.
With this result, it is already seven consecutive months of reductions in the holding of local debt by non-residents, a streak not seen since the period from January to September 2016.
From April to the present date, the accumulated outflow amounts to 170,869 million pesos. If it continues in November, it would become the eighth consecutive monthly decrease.
