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    Mexico Economy - 1991
    https://theodora.com/wfb1991/mexico/mexico_economy.html
    SOURCE: 1991 CIA WORLD FACTBOOK

      Overview: Mexico's economy is a mixture of state-owned industrial plants (notably oil), private manufacturing and services, and both large-scale and traditional agriculture. In the 1980s Mexico experienced
      severe economic difficulties: the nation accumulated large external debts as world petroleum prices fell; rapid population growth outstripped the domestic food supply; and inflation, unemployment, and pressures to emigrate became more acute. Growth in national output, however, appears to be recovering, rising from 1.4% in 1988 to 3.9% in 1990. The US is Mexico's major trading partner, accounting for two-thirds of its exports and imports. After petroleum, border assembly plants and tourism are the largest earners of foreign exchange. The government, in consultation with international economic agencies, is implementing programs to stabilize the economy and foster growth. In 1991 the government also plans to begin negotiations with the US and Canada on a free trade agreement.

      GDP: $236 billion, per capita $2,680; real growth rate 3.9% (1990)

      Inflation rate (consumer prices): 30% (1990)

      Unemployment rate: 15-18% (1990 est.)

      Budget: revenues $44.3 billion; expenditures $55.2 billion, including capital expenditures of $7.8 billion (1989)

      Exports: $26.8 billion (f.o.b., 1990); commodities--crude oil, oil products, coffee, shrimp, engines, cotton; partners--US 66%, EC 16%, Japan 11%

      Imports: $29.8 billion (c.i.f., 1990); commodities--grain, metal manufactures, agricultural machinery, electrical equipment; partners--US 62%, EC 18%, Japan 10%

      External debt: $96.0 billion (1990)

      Industrial production: growth rate 5.3% (1989); accounts for 27% of GDP

      Electricity: 27,600,000 kW capacity; 108,976 million kWh produced, 1,240 kWh per capita (1990)

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

      Agriculture: accounts for 9% of GDP and over 25% of work force; large number of small farms at subsistence level; major food crops--corn, wheat, rice, beans; cash crops--cotton, coffee, fruit, tomatoes; fish catch of 1.4 million metric tons among top 20 nations (1987)

      Illicit drugs: illicit cultivation of opium poppy and cannabis continues in spite of government eradication efforts; major link in chain of countries used to smuggle cocaine from South American dealers to US markets

      Economic aid: US commitments, including Ex-Im (FY70-89), $3.1 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $7.1 billion; Communist countries (1970-89), $110 million

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

      Exchange rates: market rate of Mexican pesos (Mex$) per US$1--2,940.9 (January 1991), 2,812.6 (1990), 2,461.3 (1989), 2,273.1 (1988), 1,378.2 (1987), 611.8 (1986), 256.9 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Mexico on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mexico Economy 1991 information contained here. All suggestions for corrections of any errors about Mexico Economy 1991 should be addressed to the CIA.

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    https://theodora.com/wfb1991/mexico/mexico_economy.html

    Revised 08-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)


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