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Mexico:
Economy

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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


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