10 Things You Should Know About The Mexican Economy

Today’s Mexico is large, diversified, and growing stronger. Here’s what you need to know about the current state of the Mexican economy, in 10 facts and figures.

  1. Mexico has a $1.26 trillion economy, making it the 15th largest economy in the world, and the 11th taking into account power purchasing parity.
  2. With its 122 million inhabitants, the GDP per capita currently stands at about $10,000, placing it firmly in the “upper middle income” countries.
  3. Economic growth was up to 2.5% in 2015.
  4. Despite the positive forecasts, the Mexican economy faced a number of challenges in recent years. Growth was under 2% in 2013, and under 3% in 2014..
  5. The government of Enrique Peña Nieto, which came to power in December 2012, has been pressing ahead with what has been seen by many as an “ambitious reform agenda..
  6. Mexico is traditionally seen as a commodities and manufacturing giant. It has the largest proven silver reserves in the world, and the tenth largest oil reserves..
  7. Mexico recently gained competitiveness as a automobile exporter. Large automotive companies such as Volkswagen, Toyota, Nissan, Ford, General Motors and Fiat Chrysler have increased their production in Mexico recently..
  8. Thanks to its membership of the North American Free Trade Association (NAFTA), Mexico has been able to become one of the United States’ largest trade partners..
  9. Mexico became the first Latin American country to enter the Organisation for Economic Co-operation and Development (OECD), in 1994..
  10. Mexico is the OECD country with the second highest degree of economic disparity between the rich and the poor, behind Chile..

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Source: WeForum


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