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Mexico Economy 2017
https://theodora.com/wfbcurrent/mexico/mexico_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Mexico Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
Mexico's $2.2 trillion economy has become increasingly oriented toward manufacturing in the 22 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.Mexico has become the US' second-largest export market and third-largest source of imports. In 2014, two-way trade in goods and services exceeded $590 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of trade under free trade agreements. In 2012, Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific Alliance with Peru, Colombia, and Chile.Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first two years in office, passing and implementing sweeping education, energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Mexico began holding public auctions of exploration and development rights to select oil and gas resources in 2015 as a part of reforms that allow for private investment in the oil, gas, and electricity sectors. The second and third auctions demonstrated the capacity for the Mexican Government to adapt and improve the terms of the contracts to garner sufficient interest from investors amid low oil prices.Although the economy experienced stronger growth in 2014-15 as a result of increased investment and stronger demand for Mexican exports, growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. Over the medium-term, the economy is vulnerable to global economic pressures, such as lower external demand, rising interest rates, and low oil prices - approximately 20% of government revenue comes from the state-owned oil company, PEMEX. The increasing integration of supply chains, development of energy sectors, and government-to-government focus on trade facilitation will continue to make the North American region increasingly competitive and contribute to Mexican economic development and strength.

GDP (purchasing power parity):
$2.307 trillion (2016 est.) $2.259 trillion (2015 est.) $2.205 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 12
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.064 trillion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.1% (2016 est.) 2.5% (2015 est.) 2.2% (2014 est.)
country comparison to the world: 132
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$18,900 (2016 est.) $18,700 (2015 est.) $18,400 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 91
[see also: GDP - per capita country ranks ]

Gross national saving:
20.3% of GDP (2016 est.) 19.9% of GDP (2015 est.) 19.5% of GDP (2014 est.)
country comparison to the world: 80
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 69.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 12.3%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -1.8%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 36.1%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -38.8% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 33.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 63.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products

Industries:
food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism

Industrial production growth rate:
3.3% (2016 est.)
country comparison to the world: 70
[see also: Industrial production growth rate country ranks ]

Labor force:
53.74 million (2016 est.)
country comparison to the world: 13
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 13.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 24.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 61.9% (2011)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
4.4% (2016 est.) 4.4% (2015 est.)
note: underemployment may be as high as 25%
country comparison to the world: 43
[see also: Unemployment rate country ranks ]

Population below poverty line:
52.3%
note: based on food-based definition of poverty; asset-based poverty amounted to more than 47% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 37.5% (2010)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
48.3 (2008) 53.1 (1998)
country comparison to the world: 25
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $224.3 billion
[see also: Budget revenues country ranks ]
expenditures: $255.9 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.1% of GDP (2016 est.)
country comparison to the world: 145
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3% of GDP (2016 est.)
country comparison to the world: 108
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
49.7% of GDP (2016 est.) 46.5% of GDP (2015 est.)
country comparison to the world: 92
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.7% (2016 est.) 2.7% (2015 est.)
country comparison to the world: 132
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
4.5% (31 December 2012) 4.5% (31 December 2011)
country comparison to the world: 84
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
4.3% (31 December 2016 est.) 3.42% (31 December 2015 est.)
country comparison to the world: 153
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$192.3 billion (31 December 2016 est.) $194.8 billion (31 December 2015 est.)
country comparison to the world: 25
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$826.7 billion (31 December 2014 est.) $727 billion (31 December 2013 est.)
country comparison to the world: 20
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$400.3 billion (31 December 2016 est.) $398.9 billion (31 December 2015 est.)
country comparison to the world: 29
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$402.3 billion (31 December 2015 est.) $480.2 billion (31 December 2014 est.) $526 billion (31 December 2013 est.)
country comparison to the world: 24
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$29.03 billion (2016 est.) -$32.71 billion (2015 est.)
country comparison to the world: 190
[see also: Current account balance country ranks ]

Exports:
$359.3 billion (2016 est.) $381 billion (2015 est.)
country comparison to the world: 13
[see also: Exports country ranks ]

Exports - commodities:
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton

Exports - partners:
US 81.1% (2015)

Imports:
$372.8 billion (2016 est.) $395.6 billion (2015 est.)
country comparison to the world: 13
[see also: Imports country ranks ]

Imports - commodities:
metalworking machines, steel mill products, agricultural machinery, electrical equipment, automobile parts for assembly and repair, aircraft, aircraft parts

Imports - partners:
US 47.3%, China 17.7%, Japan 4.4% (2015)

Reserves of foreign exchange and gold:
$176.4 billion (31 December 2016 est.) $178 billion (31 December 2015 est.)
country comparison to the world: 14
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$484.6 billion (31 December 2016 est.) $441.6 billion (31 December 2015 est.)
country comparison to the world: 26
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$384.3 billion (31 December 2016 est.) $356.9 billion (31 December 2015 est.)
country comparison to the world: 19
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$153.3 billion (31 December 2016 est.) $142.9 billion (31 December 2015 est.)
country comparison to the world: 29
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Mexican pesos (MXN) per US dollar - 18.34 (2016 est.) 15.848 (2015 est.) 15.848 (2014 est.) 13.292 (2013 est.) 13.17 (2012 est.)


NOTE: The information regarding Mexico on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Mexico Economy 2017 information contained here. All suggestions for corrections of any errors about Mexico Economy 2017 should be addressed to the CIA.




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