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    Mexico Economy - 1989
    https://theodora.com/wfb1989/mexico/mexico_economy.html
    SOURCE: 1989 CIA WORLD FACTBOOK

      Overview: Economic growth since the mid-1970s has been based primarily on expansion of the oil industry. In recent years, however, Mexico has experienced severe economic difficulties by accumulating large external debts as world prices for petroleum declined. During the period 1975-86 the average annual increase in real GDP fell from 5.6% to 1.3%. By 1987 per capita GDP had fallen to $1,640, the unemployment rate had risen to 18%, and the inflation rate set a new high of 159%. The US is Mexico's major trading partner, accounting for 70% of trade turnover. After petroleum, border assembly plants and tourism are the largest earners of foreign exchange.

      GDP: $135.9 billion, per capita $1,640; real growth rate 1.4% (1987)

      Inflation rate (consumer prices): 52% (1988)

      Unemployment rate: 19% (1988)

      Budget: revenues $41.1 billion; expenditures $62.7 billion, including capital expenditures of $NA (1987)

      Exports: $22.9 billion (f.o.b., 1988); @m5commodities--crude oil, oil products, coffee, shrimp, engines, cotton; @m5partners--US 66%, EC 16%, Japan 11%

      Imports: $18.6 billion (c.i.f., 1988); @m5commodities--grain, metal manufactures, agricultural machinery, electrical equipment; @m5partners--US 62%, EC 18%, Japan 10%

      External debt: $100 billion (1988)

      Industrial production: growth rate 4.1% (1987)

      Electricity: 24,962,000 kW capacity; 91,250 million kWh produced, 1,090 kWh per capita (1988)

      Industries: food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, transportation equipment, tourism

      Agriculture: corn, cotton, wheat, coffee, sugarcane, sorghum, oilseed, pulses, and vegetables; an illegal producer of opium poppy and cannabis for the international drug trade

      Aid: US commitments, including Ex-Im (FY70-87), $3.0 billion; Western (non-US) countries, ODA and OOF bilateral committments (1970-86), $5.1 billion; Communist countries (1970-87), $110 million

      Currency: Mexican peso (plural--pesos); 1 Mexican peso (Mex$) = 100 centavos

      Exchange rates: market rate of Mexican pesos (Mex$) per US$1--2,295.0 (December 1988), 2,288.3 (1988), 1,405.8 (1987), 637.4 (1986), 310.2 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Mexico on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mexico Economy 1989 information contained here. All suggestions for corrections of any errors about Mexico Economy 1989 should be addressed to the CIA.

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    https://theodora.com/wfb1989/mexico/mexico_economy.html

    Revised 15-Apr-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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