Economic Trends/Outlook in Mexico
Mexico became the 12th world economic power. Although the GDP fell sharply in 2009 (-6.5%), the GDP is predicted to rise by about 4% in 2010. Resumption of exports, especially car sales and US tourism are encouraging signs. The general economic outlook is relatively good. According to the different rating agencies, Mexico enjoys the “investment grade” status. The Doing Business 2010 report considers it the best country to do business in in Latin America; nevertheless, the growing security issues discourage investments and tourism. The corruption and inefficiency of Mexican bureaucracy are also among the country’s weaknesses
|GDP (billions USD)||882.22||1,039.12e||1,167.12e||1,231.64e||1,293.30e|
|GDP (Constant Prices, Annual % Change)||-6.1||5.5e||4.6e||4.0e||3.4e|
|GDP per Capita (USD)||8,203||9,566e||10,638e||11,115e||11,556e|
|General Government Gross Debt (in % of GDP)||44.6||42.7e||42.3e||42.1e||42.0e|
|Inflation Rate (%)||5.3||4.2e||3.6e||3.1e||3.0e|
|Unemployment Rate (% of the Labor Force)||5.5||5.4e||4.5e||3.9e||3.5e|
|Current Account (billions USD)||-5.24e||-11.18e||-14.66e||-18.86e||-|
|Current Account (in % of GDP)||-0.6e||-1.1e||-1.4e||-1.6e||-|
Source: IMF - World Economic Outlook Database
Note: (e) Estimated Data
Main Sectors of Industry
Agriculture accounts for approximately 4% of the GDP and employs 13.5% of the active population, however, the scarcity of credit continues to penalize this sector. Mexico ranks amongst the world's largest producers of coffee, sugar, corn, oranges, avocadoes and limes. Mexico is the world's 5th biggest producer of beer and its number two exporter. It is amongst the world's leading producers of many minerals, including silver, fluorite, zinc and mercury, and its oil and gas reserves are one of its most precious possessions: Mexico is the world’s fifth largest producer of oil. The oil company PEMEX is the second most powerful company in Latin America, according to the industry journal América Economía. Cattle farming and fishing are also important economic activities.
The aerospace sector has grown sharply in the last five years, due to the presences of almost 190 companies, such as Bombardier, Goodrich, the Safran group and Honeywell, which together employ 30 000 people. Mexico is also one of the 10th major car producers. The hi-tech, information and software development sectors are also experiencing a real momentum, driven by the quality of the workforce, clusters and low operating costs, which allow for the establishment of call centers.
The tertiary sector contributes to around 60% of the GDP and the construction sector is coming up again due to real estate investments.
|Breakdown of Economic Activity By Sector||Agriculture||Industry||Services|
|Employment By Sector (in % of Total Employment)||13.5||25.9||59.9|
|Value Added (in % of GDP)||4.3||34.8||60.9|
|Value Added (Annual % Change)||1.8||-7.3||-6.7|
Source: World Bank - Last Available Data.
Indicator of Economic Freedom
- Moderately free
- World Rank:
- Regional Rank:
Sources of General Economic Information
Ministry of the Economy
Ministry of Social Development
Ministry of Finance
Ministry of Energy
- Statistical Office
National Institute of Statistics and Geography
- Central Bank
Bank of Mexico
- Stock Exchange
Mexican Stock Exchange
- Other Useful Resources
Ministries of Mexico
National Institute of Statistics and Geography
- Main Online Newspapers
- Economic Portals
Trade in Mexico
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