 Mexico
Business
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 government is cognizant of
the need to upgrade infrastructure, modernize the tax system and labor
laws, and provide incentives to invest in the energy sector, but progress
is slow.
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Mexico Online
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Financial
Facts, Estimates and Statistics
Agriculture:
corn, wheat,
soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry,
dairy products; wood products
Currency
(code): Mexican peso (MXN)
Currency
Exchange Rate: Mexican pesos per US dollar - 11.286
Airlines
- North America
Airports
in Mexico
Exports/Imports
Exports
$182.4 billion
f.o.b.
Exports - commodities:
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee,
cotton
Exports - partners:
US 87.6%, Canada 1.8%, Spain 1.1%
Imports
$190.8 billion
f.o.b.
Imports - commodities:
metalworking machines, steel mill products, agricultural machinery, electrical
equipment, car parts for assembly, repair parts for motor vehicles, aircraft,
and aircraft parts
Imports - partners:
US 53.7%, China 7%, Japan 5.1%
Fiscal year: calendar year
Gross Domestic
Product
GDP (purchasing power parity):
$1.006 trillion
GDP - real growth rate:
4.1%
GDP - per capita: purchasing
power parity - $9,600
GDP - composition by sector:
agriculture: 4%, industry: 27.2%, services: 68.9%
Labor force: 34.73 million
Labor force - by occupation:
agriculture 18%, industry 24%, services 58%
Unemployment rate: 3.2% plus
Budget: revenues: $160 billion,
expenditures: $158 billion
Hotels in Mexico
Industries
food and beverages,
tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing,
motor vehicles, consumer durables, tourism
Industrial
production growth rate: 3.8%
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