| Economy | Mexico |
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Economy - overview:
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Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%. Mexico has free trade agreements with over 50 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs. |
GDP (purchasing power parity):
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$1.657 trillion (2011 est.)
$1.596 trillion (2010 est.)
$1.514 trillion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$15,100 (2011 est.)
$14,400 (2010)
$13,600 (2009)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$1.185 trillion (2011 est.) |
GDP - real growth rate:
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3.8% (2011 est.)
5.4% (2010 est.)
-6.2% (2009 est.) |
GDP - composition by sector:
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agriculture: 3.9%
industry: 32.8%
services: 63.4% (2011 est.) |
Investment (gross fixed):
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26% of GDP (2011 est.) |
Population below poverty line:
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18.2%
note: based on food-based definition of poverty; asset based poverty amounted to more than 47% (2008) |
Household income or consumption by percentage share:
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lowest 10%: 1.5%
highest 10%: 41.4% (2008) |
Distribution of family income - Gini index:
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51.7 (2008)
53.1 (1998) |
Inflation rate (consumer prices):
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3.5% (2011 est.)
4.2% (2010 est.) |
Central bank discount rate:
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NA% (31 December 2010 est.)
4.5% (31 December 2009 est.) |
Commercial bank prime lending rate:
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5% (31 December 2011 est.)
5.287% (31 December 2010 est.) |
Stock of money:
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$115.9 billion (31 December 2009 est.)
$92.34 billion (31 December 2008) |
Stock of money - per capita:
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1,020 USD per capita |
Stock of quasi money:
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$146.8 billion (31 December 2009 est.)
$147.4 billion (31 December 2008) |
Stock of quasi money - per capita:
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1,291 USD per capita |
Stock of domestic credit:
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$407.4 billion (31 December 2011 est.)
$374.2 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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3,583 USD per capita |
Stock of narrow money:
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$165.9 billion (31 December 2011 est.)
$148.4 billion (31 December 2010 est.) |
Stock of broad money:
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$641.1 billion (31 December 2011 est.)
$582.9 billion (31 December 2010 est.) |
Labor force:
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47.77 million (2011 est.) |
Labor force participation rate:
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42.01 % of population |
Labor force - by occupation:
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agriculture: 13.7%
industry: 23.4%
services: 62.9% (2005) |
Unemployment rate:
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5.1% (2011 est.)
5.4% (2010 est.)
note: underemployment may be as high as 25% |
Unemployment, youth ages 15-24:
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total: 10%
male: 9.7%
female: 10.6% (2009) |
Budget:
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revenues: $266.3 billion
expenditures: $295.2 billion (2011 est.) |
Budget revenues per capita:
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2,342 USD per capita |
Taxes and other revenues:
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22.5% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-2.4% of GDP (2011 est.) |
Public debt:
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37.5% of GDP (2011 est.)
36.9% of GDP (2010 est.) |
Industries:
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food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism |
Industrial production growth rate:
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3% (2011 est.) |
Electricity - production:
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239.1 billion kWh (2009 est.) |
Electricity - production per capita:
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2,103 kWh per capita |
Electricity - consumption:
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181.5 billion kWh (2009 est.) |
Electricity - consumption - per capita:
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1,596 kWh per capita |
Electricity - exports:
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1.32 billion kWh (2009 est.) |
Electricity - imports:
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699.2 million kWh (2009 est.) |
Oil - production:
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2.983 million bbl/day (2010 est.) |
Oil - production per capita:
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26,231 bbl/day per capita |
Oil - consumption:
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2.073 million bbl/day (2010 est.) |
Oil - consumption - per capita:
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6.65 bbl/year per capita |
Oil - exports:
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1.511 million bbl/day (2009 est.) |
Oil - imports:
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496,000 bbl/day (2009 est.) |
Oil - proved reserves:
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10.42 billion bbl (1 January 2011 est.) |
Natural gas - production:
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59.07 billion cu m (2010 est.) |
Natural gas - production per capita:
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520 cu m per capita |
Natural gas - consumption:
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62.42 billion cu m (2010 est.) |
Natural gas - consumption - per capita:
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549 cu m per capita |
Natural gas - exports:
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200 million cu m (2010 est.) |
Natural gas - imports:
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14.59 billion cu m (2010 est.) |
Natural gas - proved reserves:
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338.8 billion cu m (1 January 2011 est.) |
Agriculture - products:
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corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products |
Current account balance:
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-$11.27 billion (2011 est.)
-$5.724 billion (2010 est.) |
Current account balance - per capita:
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-99 USD per capita |
Exports:
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$336.3 billion (2011 est.)
$298.5 billion (2010 est.) |
Exports per capita:
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2,958 USD per capita |
Exports - commodities:
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manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton |
Exports - partners:
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US 73.5%, Canada 7.5% (2010) |
Imports:
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$341.9 billion (2011 est.)
$301.5 billion (2010 est.) |
Imports per capita:
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3,007 USD per capita |
Imports - commodities:
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metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts |
Imports - partners:
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US 60.6%, China 6.6%, South Korea 5.2% (2010) |
Reserves of foreign exchange and gold:
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$142 billion (31 December 2011 est.)
$114 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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1,249 USD per capita |
Debt - external:
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$204 billion (31 December 2011 est.)
$195.6 billion (31 December 2010 est.) |
Debt - external - per capita:
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1,794 USD per capita |
Stock of direct foreign investment - at home:
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$321.5 billion (31 December 2011 est.)
$326.1 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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2,828 USD per capita |
Stock of direct foreign investment - abroad:
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$84.92 billion (31 December 2011 est.)
$78.38 billion (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
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747 USD per capita |
Market value of publicly traded shares:
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$454.3 billion (31 December 2010)
$340.6 billion (31 December 2009)
$232.6 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
3,995 USD per capita |
Currency (code):
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Mexican peso (MXN) |
Exchange rates:
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Mexican pesos (MXN) per US dollar -
12.39 (2011 est.)
12.636 (2010 est.)
13.514 (2009)
11.016 (2008)
10.8 (2007) |
Fiscal year:
|
calendar year |
|
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