Mexico

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Mexico - In Short.

Overview of Mexico

The site of several advanced Amerindian civilizations – including the Olmec, Toltec, Teotihuacan, Zapotec, Maya, and Aztec – Mexico was conquered and colonized by Spain in the early 16th century. Administered as the Viceroyalty of New Spain for three centuries, it achieved independence early in the 19th century. Elections held in 2000 marked the first time since the 1910 Mexican Revolution that an opposition candidate – Vicente FOX of the National Action Party (PAN) – defeated the party in government, the Institutional Revolutionary Party (PRI). He was succeeded in 2006 by another PAN candidate Felipe CALDERON, but Enrique PENA NIETO regained the presidency for the PRI in 2012. Left-leaning antiestablishment politician and former mayor of Mexico City (2000-05) Andres Manuel LOPEZ OBRADOR, from the National Regeneration Movement (MORENA), became president in December 2018.The global financial crisis in late 2008 caused a massive economic downturn in Mexico the following year, although growth returned quickly in 2010. Ongoing economic and social concerns include low real wages, high underemployment, inequitable income distribution, and few advancement opportunities for the largely indigenous population in the impoverished southern states. Since 2007, Mexico’s powerful drug-trafficking organizations have engaged in bloody feuding, resulting in tens of thousands of drug-related homicides.

	Value
Country Full Name	Mexico
Country Code	MEX
Region	Latin America & Caribbean
Income Group	Upper middle income
Currency Unit
GDP	1.07E+12
Population	128932753
Land Area	1943950
Net National Income Per Capita	6238.808601
GDP per Capita (PPP)	18444.07305

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Mexico - Economic

Economy of Mexico

Mexico’s $2.4 trillion economy â 11th largest in the world – has become increasingly oriented toward manufacturing since the North American Free Trade Agreement (NAFTA) entered into force in 1994. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.Mexico has become the US’ second-largest export market and third-largest source of imports. In 2017, two-way trade in goods and services exceeded $623 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of its trade under free trade agreements. In 2012, Mexico formed the Pacific Alliance with Peru, Colombia, and Chile.Mexico’s current government, led by President Enrique PENA NIETO, has emphasized economic reforms, passing and implementing sweeping energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Since 2015, Mexico has held public auctions of oil and gas exploration and development rights and for long-term electric power generation contracts. Mexico has also issued permits for private sector import, distribution, and retail sales of refined petroleum products in an effort to attract private investment into the energy sector and boost production.Since 2013, Mexicoâs economic growth has averaged 2% annually, falling short of private-sector expectations that President PENA NIETOâs sweeping reforms would bolster economic prospects. Growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. Mexicoâs economy remains vulnerable to uncertainty surrounding the future of NAFTA â because the United States is its top trading partner and the two countries share integrated supply chains â and to potential shifts in domestic policies following the inauguration of a new a president in December 2018.

Unemployment Rate

Inflation Rate

Mexico - GDP Composition

GDP Composiiton & Value Added of Mexico

Last Updated: Jan, 2021, Updated For 2020.

Mexico - GDP, Value Added

Demographics of Mexico

most of the population is found in the middle of the country between the states of Jalisco and Veracruz; approximately a quarter of the population lives in and around Mexico City

Geographic Location

North America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the United States and bordering the North Pacific Ocean, between Guatemala and the United States

Races

Mestizo (Amerindian-Spanish) 62%, predominantly Amerindian 21%, Amerindian 7%, other 10% (mostly European) (2012 est.)note: Mexico does not collect census data on ethnicity

Languages

Spanish only 93.8%, Spanish and indigenous languages 5.4%, indigenous only 0.6%, unspecified 0.2%; note -indigenous languages include various Mayan, Nahuatl, and other regional languages (2020 est.)major-language

Religion

Roman Catholic 78%, Protestant/evangelical Christian 11.2%, other 0.002%, unaffiliated (includes atheism) 10.6% (2020 est.)

Dependency & Expectancy of Mexico

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

Politics & Policies of Mexico

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

APEC, Australia Group, BCIE, BIS, CAN (observer), Caricom (observer), CD, CDB, CE (observer), CELAC, CSN (observer), EBRD, FAO, FATF, G-3, G-15, G-20, G-24, G-5, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAES, LAIA, MIGA, NAFTA, NAM (observer), NEA, NSG, OAS, OECD, OPANAL, OPCW, Pacific Alliance, Paris Club (associate), PCA, SICA (observer), UN, UNASUR (observer), UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina (observer), UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO