Hainan, China
MEXICO
COUNTRIES A-Z
ECONOMIC DETAILS OF MEXICO

ECONOMY OVERVIEW
Mexico has a free market economy that recently entered the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is one-fourth that of the US; income distribution remains highly unequal. Trade with the US and Canada has tripled since the implementation of NAFTA in 1994. Mexico has 12 free trade agreements with over 40 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements. The new Felipe CALDERON administration that took office in December 2006 faces many of the same challenges that former President FOX tried to tackle, including the need to upgrade infrastructure, modernize the tax system and labor laws, and allow private investment in the energy sector. CALDERON has stated that his top priorities include reducing poverty and creating jobs. The success of his economic agenda will depend on his ability to garner support from the opposition. 
GDP - purchasing power parity:
$1.149 trillion (2006 est.) 

GDP - real growth rate:
4.8% (2006 est.) 


GDP - per capita:
$10,700 (2006 est.) 

GDP - by sector (agriculture):
agriculture: 3.9% 

GDP - by sector (industry):
industry: 25.7% 

GDP - by sector (services):
services: 70.5% (2006 est.) 


Export Partners:
US 78.7%, Canada 6%, Spain 1.4% (2006) 

Import Partners:
US 60%, Japan 4.2%, China 3.9% (2006) 

Export Commodities:
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton 

Import Commodities:
metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts 
Exports Volume:
$248.8 billion f.o.b. (2006 est.) 

Imports Volume:
$253.1 billion f.o.b. (2006 est.) 


 
Labour Force:
38.09 million (2006 est.) 

Unemployment Rate:
3.2% plus underemployment of perhaps 25% (2006 est.) 

Population below poverty line:
40% (2003 est.) 

Inflation Rate:
3.4% (2006 est.) 

Investment (gross fixed):
20% of GDP (2006 est.) 

Public Debt:
20.7% of GDP (2006 est.) 


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:
3.6% (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) 


 
Oil - production:
3.42 million bbl/day (2005 est.) 

Oil - consumption:
1.97 million bbl/day (2004 est.) 

Oil - exports:
1.863 million bbl/day (2004) 

Oil - imports:
205,000 bbl/day (2004) 


 
Natural gas - production:
41.47 billion cu m (2004 est.) 

Natural gas - consumption:
 

Natural gas - exports:
 

Natural gas - imports:
 


Current Account Balance:
-$400.1 million (2006 est.) 

Currency Code:
Mexican peso (MXN) 



 
 
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