| Economy | Mexico |
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Economy - overview:
|
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 one-fourth that of the US; income distribution remains highly unequal. Trade with the US and Canada has nearly tripled since the implementation of NAFTA in 1994. Mexico has 12 free trade agreements with over 40 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 a pension and a fiscal reform. The administration continues to face many economic challenges including the need to upgrade infrastructure, modernize labor laws, and allow private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs. |
GDP (purchasing power parity):
|
$1.559 trillion (2008 est.)
$1.538 trillion (2007)
$1.49 trillion (2006)
note: data are in 2008 US dollars |
GDP - per capita (PPP):
|
$14,200 (2008 est.)
$14,100 (2007 est.)
$13,900 (2006 est.)
note: data are in 2008 US dollars |
GDP (official exchange rate):
|
$1.143 trillion (2008 est.) |
GDP - real growth rate:
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1.4% (2008 est.)
3.2% (2007 est.)
4.9% (2006 est.) |
GDP - composition by sector:
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agriculture: 3.7%
industry: 34.1%
services: 62.2% (2008 est.) |
Investment (gross fixed):
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22.9% of GDP (2008 est.) |
Population below poverty line:
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13.8% using food-based definition of poverty; asset based poverty amounted to more than 40% (2006) |
Household income or consumption by percentage share:
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lowest 10%: 1.2%
highest 10%: 37% (2006) |
Distribution of family income - Gini index:
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47.9 (2006) |
Inflation rate (consumer prices):
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6.2% (2008 est.) |
Central bank discount rate:
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NA |
Commercial bank prime lending rate:
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7.56% (31 December 2007) |
Stock of money:
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$103.5 billion (31 December 2007) |
Stock of money - per capita:
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931 USD per capita |
Stock of quasi money:
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$168.4 billion (31 December 2007) |
Stock of quasi money - per capita:
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1,515 USD per capita |
Stock of domestic credit:
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$349.1 billion (31 December 2007) |
Stock of domestic credit - per capita:
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3,140 USD per capita |
Labor force:
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45.5 million (2008 est.) |
Labor force participation rate:
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40.91 % of population |
Labor force - by occupation:
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agriculture: 15.1%
industry: 25.7%
services: 59% (2005) |
Unemployment rate:
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4.1% plus underemployment of perhaps 25% (October 2008) |
Budget:
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revenues: $256.7 billion
expenditures: $256.8 billion (2008 est.) |
Budget revenues per capita:
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2,309 USD per capita |
Public debt:
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20.3% of GDP (2008 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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0% (2008 est.) |
Electricity - production:
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243.3 billion kWh (2007 est.) |
Electricity - production per capita:
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2,188 kWh per capita |
Electricity - consumption:
|
202 billion kWh (2007 est.) |
Electricity - consumption - per capita:
|
1,817 kWh per capita |
Electricity - exports:
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1.278 billion kWh (2007 est.) |
Electricity - imports:
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484.2 million kWh (2007 est.) |
Oil - production:
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3.501 million bbl/day (2007 est.) |
Oil - production per capita:
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31,481 bbl/day per capita |
Oil - consumption:
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2.119 million bbl/day (2007 est.) |
Oil - consumption - per capita:
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6.95 bbl/year per capita |
Oil - exports:
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2.204 million bbl/day (2005) |
Oil - imports:
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385,400 bbl/day (2005) |
Oil - proved reserves:
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11.65 billion bbl (1 January 2008 est.) |
Natural gas - production:
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55.98 billion cu m (2007 est.) |
Natural gas - production per capita:
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504 cu m per capita |
Natural gas - consumption:
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68.29 billion cu m (2007 est.) |
Natural gas - consumption - per capita:
|
615 cu m per capita |
Natural gas - exports:
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2.973 billion cu m (2007 est.) |
Natural gas - imports:
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11.69 billion cu m (2007 est.) |
Natural gas - proved reserves:
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392.2 billion cu m (1 January 2008 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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-$13.45 billion (2008 est.) |
Current account balance - per capita:
|
-120 USD per capita |
Exports:
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$294 billion f.o.b. (2008 est.) |
Exports per capita:
|
2,644 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 82.2%, Canada 2.4%, Germany 1.5% (2007) |
Imports:
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$305.9 billion f.o.b. (2008 est.) |
Imports per capita:
|
2,751 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 49.6%, China 10.5%, Japan 5.8%, South Korea 4.5% (2007) |
Reserves of foreign exchange and gold:
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$91.99 billion (31 December 2008 est.) |
Reserves of foreign exchange and gold - per capita:
|
828 USD per capita |
Debt - external:
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$181.2 billion (31 December 2008 est.) |
Debt - external - per capita:
|
1,630 USD per capita |
Stock of direct foreign investment - at home:
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$278.9 billion (2008 est.) |
Stock of direct foreign investment - at home - per capita:
|
2,508 USD per capita |
Stock of direct foreign investment - abroad:
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$43.01 billion (2008 est.) |
Stock of direct foreign investment - abroad - per capita:
|
387 USD per capita |
Market value of publicly traded shares:
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$397.7 billion (31 December 2007) |
Market value of publicly traded shares - per capita:
|
3,577 USD per capita |
Economic aid - donor:
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void |
Economic aid - recipient:
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$189.4 million (2005) |
Economic aid - recipient per capita:
|
2 USD per capita |
Currency (code):
|
Mexican peso (MXN) |
Exchange rates:
|
Mexican pesos (MXN) per US dollar - 11.016 (2008 est.), 10.8 (2007), 10.899 (2006), 10.898 (2005), 11.286 (2004) |
Fiscal year:
|
calendar year |
|
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