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): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
$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 ]
$1.064 trillion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]
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 ]
$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 ]
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 ]
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 ]
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 ]
corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
3.3% (2016 est.)
country comparison to the world: 70
[see also: Industrial production growth rate country ranks ]
53.74 million (2016 est.)
country comparison to the world: 13
[see also: Labor force country ranks ]
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 ]
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 ]
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 ]
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 ]
48.3 (2008)
53.1 (1998)
country comparison to the world: 25
[see also: Distribution of family income - Gini index country ranks ]
revenues: $224.3 billion
[see also: Budget revenues country ranks ]
expenditures: $255.9 billion (2016 est.)
[see also: Budget expenditures country ranks ]
21.1% of GDP (2016 est.)
country comparison to the world: 145
[see also: Taxes and other revenues country ranks ]
-3% of GDP (2016 est.)
country comparison to the world: 108
[see also: Budget surplus (+) or deficit (-) country ranks ]
49.7% of GDP (2016 est.)
46.5% of GDP (2015 est.)
country comparison to the world: 92
[see also: Public debt country ranks ]
calendar year
2.7% (2016 est.)
2.7% (2015 est.)
country comparison to the world: 132
[see also: Inflation rate (consumer prices) country ranks ]
4.5% (31 December 2012)
4.5% (31 December 2011)
country comparison to the world: 84
[see also: Central bank discount rate country ranks ]
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 ]
$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 ]
$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 ]
$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 ]
$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 ]
-$29.03 billion (2016 est.)
-$32.71 billion (2015 est.)
country comparison to the world: 190
[see also: Current account balance country ranks ]
$359.3 billion (2016 est.)
$381 billion (2015 est.)
country comparison to the world: 13
[see also: Exports country ranks ]
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton
US 81.1% (2015)
$372.8 billion (2016 est.)
$395.6 billion (2015 est.)
country comparison to the world: 13
[see also: Imports country ranks ]
metalworking machines, steel mill products, agricultural machinery, electrical equipment, automobile parts for assembly and repair, aircraft, aircraft parts
US 47.3%, China 17.7%, Japan 4.4% (2015)
$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 ]
$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 ]
$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 ]
$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 ]
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.)