Short facts about the economy in Mexico
| 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 2000. The ZEDILLO
administration privatized and expanded competition in seaports, 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 1996-2000. Private consumption became the leading driver of growth
in 2000, accompanied by increased employment and higher real 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 tripled since NAFTA was implemented in 1994. Mexico completed
free trade agreements with the EU, Israel, El Salvador, Honduras, and Guatemala
in 2000, and is pursuing additional trade agreements with countries in Latin
America and Asia to lessen its dependence on the
US. |
| GDP: |
purchasing power parity - $915 billion
(2000 est.) |
| GDP - real
growth rate: |
7.1% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $9,100 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 5%
industry: 27%
services: 68%
(2000) |
| 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): |
9% (2000
est.) |
| Labor
force: |
39.8 million
(2000) |
| Labor force
- by occupation: |
agriculture 20%, industry 24%, services
56% (1998) |
| Unemployment
rate: |
urban - 2.2% (2000); plus considerable
underemployment |
| Budget: |
revenues: $125 billion
expenditures: $130 billion, including capital
expenditures of $NA (2000 est.) |
| Industries: |
food and beverages, tobacco, chemicals,
iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer
durables, tourism |
| Industrial
production growth rate: |
7.5% (2000
est.) |
| Electricity
- production: |
182.492 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 74.12%
hydro: 17.75%
nuclear:
5.21%
other: 2.92% (1999) |
| Electricity
- consumption: |
170.754 billion kWh
(1999) |
| Electricity
- exports: |
11 million kWh
(1999) |
| Electricity
- imports: |
1.047 billion kWh
(1999) |
| Agriculture
- products: |
corn, wheat, soybeans, rice, beans,
cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood
products |
| Exports: |
$168 billion (f.o.b., 2000), includes
in-bond industries (assembly plant operations) |
| Exports -
commodities: |
manufactured goods, oil and oil
products, silver, fruits, vegetables, coffee,
cotton |
| Exports -
partners: |
US 88.6%, Canada 2%, Spain 0.9%,
Germany 0.9%, Japan 0.6%, UK 0.6%, Netherlands Antilles 0.5%, Switzerland 0.3%
Venezuela 0.3%, Chile 0.3% (2000 est.) |
| Imports: |
$176 billion (f.o.b., 2000), includes
in-bond industries (assembly plant operations) |
| 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 73.6%, Japan 3.7%, Germany 3.3%,
Canada 2.3%, South Korea 2%, China 1.6%, Taiwan 1.2%, Italy 1%, Brazil 1% (2000
est.) |
| Debt -
external: |
$162 billion
(2000) |
| Economic aid
- recipient: |
$1.166 billion
(1995) |
| Currency: |
Mexican peso
(MXN) |
| Exchange
rates: |
Mexican pesos per US dollar - 9.7701
(January 2001), 9.4556 (2000), 9.5604 (1999), 9.1360 (1998), 7.9185 (1997),
7.5994 (1996) |
| Fiscal
year: |
calendar year | Source: World Factbook |
