MBA Mexico

MBA Mexico

Mexican Economy


 

Search jobs


Mexico has a free market economy system and its economy is oriented to exportation. Its economy is constituted by a mixture of modern and antiquated industry together with agriculture; all together are being, progressively, controlled by the private sector. The steps toward an open economic system and the integration with the world economy have made the country get a strong development strategy.

Mexico is recognized as an upper middle-income country and it is the 14th biggest economy in the world. Recent administrations have expanded the infrastructure and opened the competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports.

The economic concerns include the commercial and financial dependence on the USA, low salaries, underemployment for the population's wide segment, distribution of unjust earnings, and few opportunities of progress for the population.

Mexico's Economy Facts

  • Mexico is the only Latin American member of the Organization for Economic Co-operation and Development.
  • Mexico’s economies most important industries include food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables and tourism.
  • Mexico is the greatest importer and exporter in Latin America.
  • Tourism is one of the most important industries in Mexico; it is the fourth source of foreign income for the country. Mexico is the eighth more visited country in the world (with more than 20 million tourists per year).
  • Mexico is producing 3.8 million barrels of oil per day being the fifth largest oil producer in the world.
  • Mexico has the highest income per capita in Latin America.


Economy Statistics

These are some of the most important statistics of Mexico's economy:


Statistics
Currency Mexican peso (MXN, $)
GDP Ranking 14th
GDP Purchasing power parity - $1.149 trillion (2006 est.)
GDP - Real growth rate 4.8% (2006 Est.)
GDP - Per capita Purchasing power parity - $10,700 (2006 Est.)
GDP - Composition by sector Agriculture: 3.9%
Industry: 25.7%
Services: 70.5% (2006 est.)
Inflation 3.9% (2007)
Labor force 38.09 Million (2006 Est.)
Labor force - By occupation Agriculture: 18%
Industry: 24%
Services: 58% (2003)
Unemployment rate 3.2% plus underemployment of perhaps 25% (2006 est.)
Budget Revenues: $196.5 billion
Expenditures: $196.2 billion; including capital expenditures of $NA (2006 est.)
Trading Partners
Industries Automobile industry, petrochemicals, cement and construction, textiles, food and beverages, mining, consumer durables, tourism
Industrial production growth rate 3.6% (2006 est.)
Electricity - Production 242.4 billion kWh (2004)
Electricity - Consumption 224.6 billion kWh (2004)
Electricity - Exports 1.203 billion kWh (2004)
Electricity - Imports 416 million kWh (2004)
Agriculture - Products Corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
Exports $248.8 billion f.o.b. (2006 est.)
Exports - Partners US 78.7%
Canada 6%
Spain 1.4% (2006)
Imports $253.1 billion f.o.b. (2006 est.)
Imports - Partners US 60%
Japan 4.2%
China 3.9% (2006)
Public Finances
Debt - External $178.3 billion (30 June 2006 est.)
Economic aid - Recipient $1.166 billion (1995)



Back to:
» MBA Mexico
» MBA Abroad