Mexico:
Economy

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Other pages in this profile of Mexico:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition Mexico has a free market economy in 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. In 2007, during his first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass a pension and a fiscal reform. The administration continues to face many economic challenges including the need to upgrade infrastructure, modernize labor laws, and allow private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.
GDP (purchasing power parity)	Definition - World rank and map $1.346 trillion (2007 est.)
GDP (official exchange rate)	Definition $893.4 billion (2007 est.)
GDP - real growth rate	Definition - World rank and map 3.3% (2007 est.)
GDP - per capita	Definition - World rank and map $12,800 (2007 est.)
GDP - composition by sector	Definition agriculture: 4% industry: 26.6% services: 69.5% (2007 est.)
Labor force	Definition 44.71 million (2007 est.)
Labor force - by occupation	Definition agriculture: 18% industry: 24% services: 58% (2003)
Unemployment rate	Definition - World rank and map 3.7% plus underemployment of perhaps 25% (2007 est.)
Population below poverty line	Definition 13.8% using food-based definition of poverty; asset based poverty amounted to more than 40% (2006)
Household income or consumption by percentage share	Definition lowest 10%: 1.2% highest 10%: 37% (2006)
Distribution of family income - Gini index	Definition - World rank and map 50.9 (2005)
Inflation rate (consumer prices)	Definition - World rank and map 4% (2007)
Investment (gross fixed)	Definition - World rank and map 20.8% of GDP (2007 est.)
Budget	Definition revenues: $209.2 billion expenditures: $209.2 billion (2007 est.)
Public debt	Definition - World rank and map 22.8% of GDP (2007 est.)
Agriculture - products	Definition corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
Industries	Definition food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
Industrial production growth rate	Definition - World rank and map 1.4% (2007 est.)
Electricity - production	Definition - World rank and map 222.4 billion kWh (2005)
Electricity - consumption	Definition - World rank and map 183.3 billion kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 1,667.1 kWh (2005)
Electricity - exports	Definition 1.597 billion kWh (2005)
Electricity - imports	Definition 470.7 million kWh (2005)
Oil - production	Definition - World rank and map 3.784 million bbl/day (2005 est.)
Oil - consumption	Definition - World rank and map 2.078 million bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 18.9 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 2.268 million bbl/day (2004)
Oil - imports	Definition - World rank and map 308,500 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 14.7 billion bbl (2007 est.)
Natural gas - production	Definition - World rank and map 41.37 billion cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 47.5 billion cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 432 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 282.9 million cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 9.717 billion cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 434.1 billion cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$7.37 billion (2007 est.)
Exports	Definition - World rank and map $271.9 billion f.o.b. (2007 est.)
Exports - commodities	Definition manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton
Exports - partners	Definition US 76.5%, Canada 6%, Germany 1.7% (2006)
Imports	Definition - World rank and map $283 billion f.o.b. (2007 est.)
Imports - commodities	Definition metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts
Imports - partners	Definition US 55.5%, China 5.4%, South Korea 5.4%, Japan 4.1% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $87.19 billion (31 December 2007 est.)
Debt - external	Definition - World rank and map $179.7 billion (31 December 2007)
Stock of direct foreign investment - at home	Definition $259.5 billion (2007 est.)
Stock of direct foreign investment - abroad	Definition $36.23 billion (2007 est.)
Market value of publicly traded shares	Definition $348.3 billion (2006)
Economic aid - recipient	Definition $189.4 million (2005)
Currency (code)	Definition Mexican peso (MXN)
Exchange rates	Definition Mexican pesos per US dollar - 10.8 (2007), 10.899 (2006), 10.898 (2005), 11.286 (2004), 10.789 (2003)
Fiscal year	Definition calendar year

Mexico: Economy

Mexico:
Economy