University of Phoenix

The fastest growing school in the world. Highly career-focused education, designed to accelerate the careers of working professionals. Both campus-based and online. Wide range of degrees, programs, locations.

Mexico Economy: from the All Country Info reference guide to country facts

Mexico Economy

Mexico Economy: A summary of information about Mexico Economy, from government research data as well as independent research and other sources.

You are here:
All CountriesMexico > Mexico Economy

Mexico: Economy

Economy - overview
Mexico has a free market economy with a mixture of
modern and outmoded industry and agriculture, increasingly dominated
by the private sector. The number of state-owned enterprises in Mexico
has fallen from more than 1,000 in 1982 to fewer than 200 in 1999. The
ZEDILLO administration is privatizing and expanding competition in sea
ports, railroads, telecommunications, electricity, natural gas
distribution, and airports. A strong export sector helped to cushion
the economy's decline in 1995 and led the recovery in 1996-99. Private
consumption became the leading driver of growth, accompanied by
increased employment and higher wages. Mexico still needs to overcome
many structural problems as it strives to modernize its economy and
raise living standards. Income distribution is very unequal, with the
top 20% of income earners accounting for 55% of income. Trade with the
US and Canada has nearly doubled since NAFTA was implemented in 1994.
Mexico is pursuing additional trade agreements with most countries in
Latin America and has signed a free trade deal with the EU to lessen
its dependence on the US. The government is pursuing conservative
economic policies in 2000 to avoid another end-of-term economic
crisis, but it still projects an economic growth rate of 4.5% because
of the strong US economy and high oil prices.
GDP
purchasing power parity - $865.5 billion (1999 est.)
GDP - real growth rate
3.7% (1999 est.)
GDP - per capita
purchasing power parity - $8,500 (1999 est.)
GDP - composition by sector
agriculture: 5%
industry: 29%
services: 66% (1999)
Population below poverty line
27% (1998 est.)
Household income or consumption by percentage share
lowest 10%: 1.8%
highest 10%: 36.6% (1996)
Inflation rate (consumer prices)
15% (1999 est.)
Labor force
38.6 million (1999)
Labor force - by occupation
agriculture 24%, industry 21%, services
55% (1997)
Unemployment rate
2.5% urban (1998); plus considerable
underemployment
Budget
revenues: $117 billion
expenditures: $123 billion, including capital expenditures of $NA
(1998 est.)
Industries
food and beverages, tobacco, chemicals, iron and steel,
petroleum, mining, textiles, clothing, motor vehicles, consumer
durables, tourism
Industrial production growth rate
4% (1999 est.)
Electricity - production
176.055 billion kWh (1998)
Electricity - production by source
fossil fuel: 78.12%
hydro: 13.82%
nuclear: 5%
other: 3.06% (1998)
Electricity - consumption
164.767 billion kWh (1998)
Electricity - exports
11 million kWh (1998)
Electricity - imports
1.047 billion kWh (1998)
Agriculture - products
corn, wheat, soybeans, rice, beans, cotton,
coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
Exports
$136.8 billion (f.o.b., 1999), includes in-bond industries
(assembly plant operations with links to US companies)
Exports - commodities
manufactured goods, oil and oil products,
silver, coffee, cotton
Exports - partners
US 89.3%, Canada 1.7%, Spain 0.6%, Japan 0.5%,
Venezuela 0.3%, Chile 0.3%, Brazil 0.3% (1999 est.)
Imports
$142.1 billion (f.o.b., 1999), includes in-bond industries
(assembly plant operations with links to US companies)
Imports - commodities
metal-working machines, steel mill products,
agricultural machinery, electrical equipment, car parts for assembly,
repair parts for motor vehicles, aircraft, and aircraft parts
Imports - partners
US 74.8%, Germany 3.8%, Japan 3.5%, Canada 1.9%,
South Korea 2%, Italy 1.3%, France 1% (1999 est.)
Debt - external
$155.8 billion (1999)
Economic aid - recipient
$1.166 billion (1995)
Currency
1 New Mexican peso (Mex$) = 100 centavos
Exchange rates
Mexican pesos (Mex$) per US$1 - 9.4793 (January 2000),
9.5604 (1999), 9.1360 (1998), 7.9185 (1997), 7.5994(1996), 6.4194
(1995)
Fiscal year
calendar year
Locations:
Home
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antarctica
Antigua & Barbuda
Arctic Ocean
Argentina
Armenia
Aruba
Ashmore & Cartier Islands
Atlantic Ocean
Australia
Austria
Azerbaijan
Bahrain
Baker Island
Bangladesh
Barbados
Bassas Da India
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia & Herzegovina
Botswana
Bouvet Island
Brazil
British Indian Ocean Territory
British Virgin Islands
Brunei
Bulgaria
Burkina Faso
Burma
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Clipperton Island
Colombia
Comoros
Cook Islands
Coral Sea Islands
Costa Rica
Croatia
Cuba
Cyprus
Czech Republic
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Europa Island
Faroe Islands
Fiji
Finland
France
French Guiana
French Polynesia
Gabon
Gaza Strip
Georgia
Germany
Ghana
Gibraltar
Glorioso Islands
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guyana
Haiti
Honduras
Hong Kong
Howland Island
Hungary
Iceland
India
Indian Ocean
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Jan Mayen
Japan
Jarvis Island
Jersey
Johnston Atoll
Jordan
Juan De Nova Island
Kazakhstan
Kenya
Kingman Reef
Kiribati
Korea
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Midway Islands
Moldova
Monaco
Mongolia
Montserrat
Morocco
Mozambique
Namibia
Nauru
Navassa Island
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Northern Mariana Islands
Norway
Oman
Pacific Ocean
Pakistan
Palau
Palmyra Atoll
Panama
Papua New Guinea
Paracel Islands
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Reunion
Romania
Rwanda
Saint Helena
Saint Kitts & Nevis
Saint Lucia
Saint Pierre & Miquelon
Saint Vincent & The Grenadines
San Marino
Sao Tome & Principe
Saudi Arabia
Senegal
Serbia & Montenegro
Seychelles
Sierra Leone
Singapore
Slovakia
Solomon Islands
Somalia
South Africa
Southern Ocean
Spain
Spratly Islands
Sri Lanka
Sudan
Suriname
Svalbard
Swaziland
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Togo
Tokelau
Tonga
Trinidad & Tobago
Tromelin Island
Tunisia
Turkey
Turkmenistan
Turks & Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Venezuela
Vietnam
Virgin Islands
Wake Island
Wallis & Futuna
West Bank
Western Sahara
World
Yemen
Zambia
Zimbabwe