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UPDATE 1-Mexico foreign direct investment $23 bln in 2007

Tue Feb 19, 2008 11:23am EST

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MEXICO CITY, Feb 19 (Reuters) - Mexico received $23.23 billion in foreign direct investment in 2007, a rise of 22.7 percent over the previous year, the economy ministry said on Tuesday.

Foreigners have poured money into Mexican operations since a free trade deal with the United States and Canada came into effect in 1994. The figure for last year was the second highest in history after 2001.

Mexico's government expects foreign direct investment to ease slightly to $20 billion this year as the U.S. economy slows, tapering demand for Mexican exports.

About 80 percent of Mexico's exports go to the United States.

Mexico's economy ministry oversees trade and investment. The finance ministry is in charge of the economy. (Reporting by Luis Rojas Mena, editing by Walker Simon;)

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