Mexico - Economic Indicators

Mexico Outlook: Riding the Political Cycle

Sep 18, 2018

The economy advanced in the first half of 2018, helped by spending on elections, and growth will be higher this year than last. Inflation is rebounding in the second half of the year despite tight monetary policy; the peso remains under depreciation pressures. A deceleration is on its way as usual during the change of government administration. The economy’s capacity remains limited and subject to potential risks. Mexico’s economy is...

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GDP Reference Last Previous Units Frequency
Private Consumption 2018 Q1 15,058,704 14,619,437 Mil. MXN, SAAR Quarterly
Real Private Consumption 2018 Q1 12,424,897 12,240,391 Mil. 2013 MXN, SAAR Quarterly
Nominal Gross Domestic Product 2018 Q1 22,971,551 22,340,285 Mil. MXN, SAAR Quarterly
Real Government Consumption 2018 Q1 2,154,707 2,132,094 Mil. 2013 MXN, SAAR Quarterly
Real Gross Domestic Product 2018 Q1 18,500,050 18,293,693 Mil. 2013 MXN, SAAR Quarterly
Investment 2018 Q1 5,122,123 4,921,020 Mil. MXN, SAAR Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2018 Q1 4,972,674 5,088,363 Mil. MXN, NSAAR Quarterly
Real Fixed Investment (gross fixed capital formation) 2018 Q1 3,691,822 3,859,910 Mil. 2013 MXN, NSAAR Quarterly
Real Investment 2018 Q1 3,849,959 3,729,653 Mil. 2013 MXN, SAAR Quarterly
Government Consumption 2018 Q1 2,672,879 2,620,018 Mil. MXN, SAAR Quarterly
Price Reference Last Previous Units Frequency
Producer Price Index (PPI) Aug 2018 127.04 127.05 Index Jun 2012=100, NSA Monthly
Consumer Price Index (CPI) Aug 2018 100.49 99.91 Index 2nd half Jul2018=100, NSA Monthly
Labor Reference Last Previous Units Frequency
Unemployment Rate Jul 2018 3.48 3.39 %, NSA Monthly
Real Wages & Salaries Jul 2018 100.3 103.1 Index 2008=100, NSA Monthly
Agriculture Employment 2018 Q2 6,717,753 6,720,104 #, NSA Quarterly
Total Employment 2018 Q2 53,785,257 52,876,916 #, NSA Quarterly
Tertiary Industries Employment 2018 Q2 32,960,001 32,219,301 #, NSA Quarterly
Unemployment 2018 Q2 1,858,160 1,713,857 #, NSA Quarterly
Primary Industries Employment 2018 Q2 6,717,753 6,720,104 #, NSA Quarterly
Secondary Industries Employment 2018 Q2 13,786,824 13,643,766 #, NSA Quarterly
Labor Force Employment 2018 Q2 53,785,257 52,876,916 #, NSA Quarterly
Labor Force 2018 Q2 55,643,417 54,590,773 #, NSA Quarterly
Wage & Salaries 2016 4,704,469 4,454,536 Mil. MXN Annual
Trade Reference Last Previous Units Frequency
Balance of Goods Jul 2018 -2,889 -896.92 Million Dollars, NSA Monthly
Exports of Goods Jul 2018 36,720 37,484 Million Dollars, NSA Monthly
Imports of Goods Jul 2018 39,609 38,381 Million Dollars, NSA Monthly
Current Account Balance 2018 Q2 -3,882 -8,763 Mil. USD, NSA Quarterly
Real Exports of Goods and Services 2018 Q1 6,603,814 6,439,611 Mil. 2013 MXN, SAAR Quarterly
Net Exports 2018 Q1 -187,419 -285,807 Mil. MXN, SAAR Quarterly
Real Imports of Goods and Services 2018 Q1 6,886,823 6,677,588 Mil. 2013 MXN, SAAR Quarterly
Imports of Goods and Services 2018 Q1 8,940,729 8,904,936 Mil. MXN, SAAR Quarterly
Exports of Goods and Services 2018 Q1 8,753,310 8,619,129 Mil. MXN, SAAR Quarterly
Real Net Exports 2018 Q1 -283,009 -237,976 ******* Quarterly
Government Reference Last Previous Units Frequency
Government Budget Balance Jul 2018 -205,017 -276,088 Mil. MXN YTD, NSA Monthly
Government Expenditures Jul 2018 2,531,332 2,203,471 Mil. MXN YTD, NSA Monthly
Government Revenues Jul 2018 2,326,314 1,927,383 Mil. MXN YTD, NSA Monthly
Outstanding Public Debt - Domestic Jun 2018 5,505 5,309 Bil. MXN, NSA Monthly
Outstanding Public Debt Jun 2018 9,404 9,261 Bil. MXN, NSA Monthly
Outstanding Public Debt - Foreign Jun 2018 3,899 3,951 Bil. MXN, NSA Monthly
Markets Reference Last Previous Units Frequency
Stock Market Index 17 Sep 2018 49,398 Index, NSA Daily
Lending Rate 17 Sep 2018 7.75 7.77 Percent, NSA Business Daily
Treasury Bills (over 31 days) 13 Sep 2018 7.9 7.93 %, NSA Thursday Weekly
Average Long-term Government Bond 13 Sep 2018 8.15 %, NSA Thursday Weekly
Money Market Rate Jun 2018 7.93 7.85 % p.a., NSA Monthly
Monetary Policy Rate Jun 2017 7 6.75 % - End of period Monthly
Real Estate Reference Last Previous Units Frequency
House Price Index 2018 Q2 145.1 138.3 Index 2012=100, NSA Quarterly
Dwelling Stocks 2010 28,614,991 # Annual
Consumer Reference Last Previous Units Frequency
Consumer Confidence Aug 2018 103.87 104.98 January 2003=100, NSA Monthly
Business Reference Last Previous Units Frequency
Business Confidence Aug 2018 51.78 51.56 Diffusion Index, NSA Monthly
Industrial Production Jul 2018 104.55 104.3 Index 2013=100, SA Monthly
Change in Inventories 2018 Q1 237,729 186,897 Mil. MXN, SAAR Quarterly
Real Change in Inventories 2018 Q1 171,680 148,429 Mil. 2013 MXN, SAAR Quarterly
Demographics Reference Last Previous Units Frequency
Population 2018 Q2 124,587,124 124,286,623 #, NSA Quarterly
Death Rate 2016 5.8 5.7 # per Ths. pop. Annual
Birth Rate 2016 18.3 18.5 # per Ths. pop., NSA Annual
Net Migration 2012 -300,000 # Annual
Deaths 2009 563,516 538,288 # Annual

Factbook

Background

Background:
The site of several advanced Amerindian civilizations - including the Olmec, Toltec, Teotihuacan, Zapotec, Maya, and Aztec - Mexico was conquered and colonized by Spain in the early 16th century. Administered as the Viceroyalty of New Spain for three centuries, it achieved independence early in the 19th century. Elections held in 2000 marked the first time since the 1910 Mexican Revolution that an opposition candidate - Vicente FOX of the National Action Party (PAN) - defeated the party in government, the Institutional Revolutionary Party (PRI). He was succeeded in 2006 by another PAN candidate Felipe CALDERON, but Enrique PENA NIETO regained the presidency for the PRI in 2012, and will serve as president until December 2018. The global financial crisis in late 2008 caused a massive economic downturn in Mexico the following year, although growth returned quickly in 2010. Ongoing economic and social concerns include low real wages, high underemployment, inequitable income distribution, and few advancement opportunities for the largely indigenous population in the impoverished southern states. Since 2007, Mexico's powerful drug-trafficking organizations have engaged in bloody feuding, resulting in tens of thousands of drug-related homicides.

Geography

Location:
North America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the United States and bordering the North Pacific Ocean, between Guatemala and the United States
Geographic coordinates:
23 00 N, 102 00 W
Map references:
North America
Area:
total: 1,964,375 sq km
land: 1,943,945 sq km
water: 20,430 sq km
country comparison to the world: 15
Area - comparative:
slightly less than three times the size of Texas
Area comparison map:
Land boundaries:
total: 4,389 km
border countries (3): Belize 276 km, Guatemala 958 km, US 3,155 km
Coastline:
9,330 km
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Climate:
varies from tropical to desert
Terrain:
high, rugged mountains; low coastal plains; high plateaus; desert
Elevation:
mean elevation: 1,111 m
elevation extremes: lowest point: Laguna Salada -10 m
highest point: Volcan Pico de Orizaba 5,636 m
Natural resources:
petroleum, silver, copper, gold, lead, zinc, natural gas, timber
Land use:
agricultural land: 54.9%
arable land 11.8%; permanent crops 1.4%; permanent pasture 41.7%
forest: 33.3%
other: 11.8% (2011 est.)
Irrigated land:
65,000 sq km (2012)
Population - distribution:
most of the population is found in the middle of the country between the states of Jalisco and Veracruz; approximately a quarter of the population lives in and around Mexico City
Natural hazards:
tsunamis along the Pacific coast, volcanoes and destructive earthquakes in the center and south, and hurricanes on the Pacific, Gulf of Mexico, and Caribbean coasts
volcanism: volcanic activity in the central-southern part of the country; the volcanoes in Baja California are mostly dormant; Colima (3,850 m), which erupted in 2010, is Mexico's most active volcano and is responsible for causing periodic evacuations of nearby villagers; it has been deemed a Decade Volcano by the International Association of Volcanology and Chemistry of the Earth's Interior, worthy of study due to its explosive history and close proximity to human populations; Popocatepetl (5,426 m) poses a threat to Mexico City; other historically active volcanoes include Barcena, Ceboruco, El Chichon, Michoacan-Guanajuato, Pico de Orizaba, San Martin, Socorro, and Tacana
Environment - current issues:
scarcity of hazardous waste disposal facilities; rural to urban migration; natural freshwater resources scarce and polluted in north, inaccessible and poor quality in center and extreme southeast; raw sewage and industrial effluents polluting rivers in urban areas; deforestation; widespread erosion; desertification; deteriorating agricultural lands; serious air and water pollution in the national capital and urban centers along US-Mexico border; land subsidence in Valley of Mexico caused by groundwater depletion
note: the government considers the lack of clean water and deforestation national security issues
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Geography - note:
strategic location on southern border of US; corn (maize), one of the world's major grain crops, is thought to have originated in Mexico

People & Society

Population:
124,574,795 (July 2017 est.)
country comparison to the world: 11
Nationality:
noun: Mexican(s)
adjective: Mexican
Ethnic groups:
mestizo (Amerindian-Spanish) 62%, predominantly Amerindian 21%, Amerindian 7%, other 10% (mostly European)
note: Mexico does not collect census data on ethnicity (2012 est.)
Languages:
Spanish only 92.7%, Spanish and indigenous languages 5.7%, indigenous only 0.8%, unspecified 0.8%
note: indigenous languages include various Mayan, Nahuatl, and other regional languages (2005)
Religions:
Roman Catholic 82.7%, Pentecostal 1.6%, Jehovah's Witness 1.4%, other Evangelical Churches 5%, other 1.9%, none 4.7%, unspecified 2.7% (2010 est.)
Age structure:
0-14 years: 26.93% (male 17,155,689/female 16,390,913)
15-24 years: 17.54% (male 11,065,927/female 10,778,382)
25-54 years: 40.81% (male 24,550,848/female 26,282,836)
55-64 years: 7.64% (male 4,362,868/female 5,160,514)
65 years and over: 7.09% (male 3,949,823/female 4,876,995) (2017 est.)
population pyramid:
Dependency ratios:
total dependency ratio: 51.4
youth dependency ratio: 41.6
elderly dependency ratio: 9.8
potential support ratio: 10.2 (2015 est.)
Median age:
total: 28.3 years
male: 27.2 years
female: 29.4 years (2017 est.)
country comparison to the world: 130
Population growth rate:
1.12% (2017 est.)
country comparison to the world: 103
Birth rate:
18.3 births/1,000 population (2017 est.)
country comparison to the world: 94
Death rate:
5.3 deaths/1,000 population (2017 est.)
country comparison to the world: 182
Net migration rate:
-1.8 migrant(s)/1,000 population (2017 est.)
country comparison to the world: 156
Population distribution:
most of the population is found in the middle of the country between the states of Jalisco and Veracruz; approximately a quarter of the population lives in and around Mexico City
Urbanization:
urban population: 79.8% of total population (2017)
rate of urbanization: 1.37% annual rate of change (2015-20 est.)
Major urban areas - population:
MEXICO CITY (capital) 20.999 million; Guadalajara 4.843 million; Monterrey 4.513 million; Puebla 2.984 million; Toluca de Lerdo 2.164 million; Tijuana 1.987 million (2015)
Sex ratio:
at birth: 1.05 male(s)/female
0-14 years: 1.05 male(s)/female
15-24 years: 1.03 male(s)/female
25-54 years: 0.93 male(s)/female
55-64 years: 0.85 male(s)/female
65 years and over: 0.82 male(s)/female
total population: 0.96 male(s)/female (2017 est.)
Mother's mean age at first birth:
21.3 years (2008 est.)
Maternal mortality ratio:
38 deaths/100,000 live births (2015 est.)
country comparison to the world: 107
Infant mortality rate:
total: 11.6 deaths/1,000 live births
male: 13 deaths/1,000 live births
female: 10.1 deaths/1,000 live births (2017 est.)
country comparison to the world: 125
Life expectancy at birth:
total population: 76.1 years
male: 73.3 years
female: 79 years (2017 est.)
country comparison to the world: 90
Total fertility rate:
2.24 children born/woman (2017 est.)
country comparison to the world: 95
Contraceptive prevalence rate:
66.9% (2015)
Health expenditures:
6.3% of GDP (2014)
country comparison to the world: 100
Physicians density:
2.23 physicians/1,000 population (2015)
Hospital bed density:
1.5 beds/1,000 population (2015)
Drinking water source:
improved:
urban: 97.2% of population
rural: 92.1% of population
total: 96.1% of population
unimproved:
urban: 2.8% of population
rural: 7.9% of population
total: 3.9% of population (2015 est.)
Sanitation facility access:
improved:
urban: 88% of population
rural: 74.5% of population
total: 85.2% of population
unimproved:
urban: 12% of population
rural: 25.5% of population
total: 14.8% of population (2015 est.)
HIV/AIDS - adult prevalence rate:
0.3% (2016 est.)
country comparison to the world: 87
HIV/AIDS - people living with HIV/AIDS:
220,000 (2016 est.)
country comparison to the world: 28
HIV/AIDS - deaths:
4,200 (2016 est.)
country comparison to the world: 33
Major infectious diseases:
degree of risk: intermediate
food or waterborne diseases: bacterial diarrhea and hepatitis A
vectorborne disease: dengue fever
note: active local transmission of Zika virus by Aedes species mosquitoes has been identified in this country (as of August 2016); it poses an important risk (a large number of cases possible) among US citizens if bitten by an infective mosquito; other less common ways to get Zika are through sex, via blood transfusion, or during pregnancy, in which the pregnant woman passes Zika virus to her fetus (2016)
Obesity - adult prevalence rate:
28.9% (2016)
country comparison to the world: 29
Children under the age of 5 years underweight:
3.9% (2015)
country comparison to the world: 117
Education expenditures:
5.3% of GDP (2014)
country comparison to the world: 72
Literacy:
definition: age 15 and over can read and write
total population: 94.5%
male: 95.5%
female: 93.5% (2015 est.)
School life expectancy (primary to tertiary education):
total: 13 years
male: 13 years
female: 13 years (2014)
Unemployment, youth ages 15-24:
total: 7.7%
male: 7.2%
female: 8.8% (2016 est.)
country comparison to the world: 137

Government

Country name:
conventional long form: United Mexican States
conventional short form: Mexico
local long form: Estados Unidos Mexicanos
local short form: Mexico
etymology: named after the Mexica, the largest and most powerful branch of the Aztecs; the meaning of the name is uncertain
Government type:
federal presidential republic
Capital:
name: Mexico City (Ciudad de Mexico)
geographic coordinates: 19 26 N, 99 08 W
time difference: UTC-6 (1 hour behind Washington, DC, during Standard Time)
daylight saving time: +1hr, begins first Sunday in April; ends last Sunday in October
note: Mexico has four time zones
Administrative divisions:
31 states (estados, singular - estado) and 1 city* (ciudad); Aguascalientes, Baja California, Baja California Sur, Campeche, Chiapas, Chihuahua, Coahuila, Colima, Cuidad de Mexico*, Durango, Guanajuato, Guerrero, Hidalgo, Jalisco, Mexico, Michoacan, Morelos, Nayarit, Nuevo Leon, Oaxaca, Puebla, Queretaro, Quintana Roo, San Luis Potosi, Sinaloa, Sonora, Tabasco, Tamaulipas, Tlaxcala, Veracruz, Yucatan, Zacatecas
Independence:
16 September 1810 (declared independence from Spain); 27 September 1821 (recognized by Spain)
National holiday:
Independence Day, 16 September (1810)
Constitution:
several previous; latest approved 5 February 1917; amended many times, last in 2017 (2017)
Legal system:
civil law system with US constitutional law influence; judicial review of legislative acts
International law organization participation:
accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction
Citizenship:
citizenship by birth: yes
citizenship by descent: yes
dual citizenship recognized: not specified
residency requirement for naturalization: 5 years
Suffrage:
18 years of age; universal and compulsory
Executive branch:
chief of state: President Enrique PENA NIETO (since 1 December 2012); note - the president is both chief of state and head of government
head of government: President Enrique PENA NIETO (since 1 December 2012)
cabinet: Cabinet appointed by the president; note - appointment of attorney general, the head of the Bank of Mexico, and senior treasury officials require consent of the Senate
elections/appointments: president directly elected by simple majority popular vote for a single 6-year term; election last held on 1 July 2012 (next to be held in July 2018)
election results: Enrique PENA NIETO elected president; percent of vote - Enrique PENA NIETO (PRI) 38.2%, Andres Manuel LOPEZ OBRADOR (PRD) 31.6%, Josefina Eugenia VAZQUEZ Mota (PAN) 25.4%, other 4.8%
Legislative branch:
description: bicameral National Congress or Congreso de la Union consists of the Senate or Camara de Senadores (128 seats; 96 members directly elected in multi-seat constituencies by simple majority vote and 32 directly elected in a single, nationwide constituency by proportional representation vote; members serve 6-year terms) and the Chamber of Deputies or Camara de Diputados (500 seats; 300 members directly elected in single-seat constituencies by simple majority vote and 200 directly elected in a single, nationwide constituency by proportional representation vote; members serve 3-year terms)
note: for the 2018 elections, senators will be eligible for a second term and deputies up to 4 consecutive terms
elections: Senate - last held on 1 July 2012 (next to be held on 1 July 2018); Chamber of Deputies - last held on 7 June 2015 (next to be held on 1 July 2018)
election results: Senate - percent of vote by party - NA; seats by party - PRI 52, PAN 38, PRD 22, PVEM 9, PT 4, MC 2, PANAL 1;
Chamber of Deputies - percent of vote by party - NA; seats by party - PRI 203, PAN 108, PRD 56, PVEM 47, MORENA 35, MC 26, PANAL 10, PES 8, PT 6, independent 1
Judicial branch:
highest court(s): Supreme Court of Justice or Suprema Corte de Justicia de la Nacion (consists of the chief justice and 11 justices and organized into civil, criminal, administrative, and labor panels) and the Electoral Tribunal of the Federal Judiciary (organized into the superior court, with 7 judges including the court president and 5 regional courts, each with 3 judges)
judge selection and term of office: Supreme Court justices nominated by the president of the republic and approved by two-thirds vote of the members present in the Senate; justices serve for life; Electoral Tribunal superior and regional court judges nominated by the Supreme Court and elected by two-thirds vote of members present in the Senate; superior court president elected from among its members to hold office for a 4-year term; other judges of the superior and regional courts serve staggered, 9-year terms
subordinate courts: federal level includes circuit, collegiate, and unitary courts; state and district level courts
Political parties and leaders:
Citizen's Movement (Movimiento Ciudadano) or MC [Dante DELGADO Rannaoro]
Institutional Revolutionary Party (Partido Revolucionario Institucional) or PRI [Enrique OCHOA Reza]
Labor Party (Partido del Trabajo) or PT [Alberto ANAYA Gutierrez]
Mexican Green Ecological Party (Partido Verde Ecologista de Mexico) or PVEM [Carlos Alberto PUENTE Salas]
Movement for National Regeneration (Movimiento Regeneracion Nacional) or MORENA [Andres Manuel LOPEZ Obrador]
National Action Party (Partido Accion Nacional) or PAN [Damian ZEPEDA Vidales]
New Alliance Party (Partido Nueva Alianza) or PNA/PANAL [Luis CASTRO Obregon]
Party of the Democratic Revolution (Partido de la Revolucion Democratica) or PRD [Manuel GRANADOS]
Social Encounter Party (Partido Encuentro Social) or PES [Hugo Eric FLORES Cervantes]
Political pressure groups and leaders:
Businessmen's Coordinating Council or CCE
Confederation of Employers of the Mexican Republic or COPARMEX
Confederation of Industrial Chambers or CONCAMIN
Confederation of Mexican Workers or CTM
Confederation of National Chambers of Commerce or CONCANACO
Coordinator for Foreign Trade Business Organizations or COECE
Federation of Unions Providing Goods and Services or FESEBES
National Chamber of Transformation Industries or CANACINTRA
National Confederation of Popular Organizations or CNOP
National Coordinator for Education Workers or CNTE
National Peasant Confederation or CNC
National Small Business Chamber or CANACOPE
National Syndicate of Education Workers or SNTE
National Union of Workers or UNT
Popular Assembly of the People of Oaxaca or APPO
Roman Catholic Church
International organization participation:
APEC, Australia Group, BCIE, BIS, CAN (observer), Caricom (observer), CD, CDB, CE (observer), CELAC, CSN (observer), EBRD, FAO, FATF, G-3, G-15, G-20, G-24, G-5, IADB, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAES, LAIA, MIGA, NAFTA, NAM (observer), NEA, NSG, OAS, OECD, OPANAL, OPCW, Pacific Alliance, Paris Club (associate), PCA, SICA (observer), UN, UNASUR (observer), UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina (observer), UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO
Diplomatic representation in the US:
chief of mission: Ambassador Geronimo GUTIERREZ Fernandez (since 24 April 2017)
chancery: 1911 Pennsylvania Avenue NW, Washington, DC 20006
telephone: [1] (202) 728-1600
FAX: [1] (202) 728-1698
consulate(s) general: Atlanta, Austin, Boston, Chicago, Dallas, Denver, El Paso (TX), Houston, Laredo (TX), Los Angeles, Miami, New York, Nogales (AZ), Phoenix, Sacramento (CA), San Antonio (TX), San Diego, San Francisco, San Jose (CA), San Juan (Puerto Rico), Saint Paul (MN)
consulate(s): Albuquerque (NM), Anchorage (AK), Boise (ID), Brownsville (TX), Calexico (CA), Del Rio (TX), Detroit, Douglas (AZ), Eagle Pass (TX), Fresno (CA), Indianapolis (IN), Kansas City (MO), Las Vegas, Little Rock (AR), McAllen (TX), Minneapolis (MN), New Orleans, Omaha (NE), Orlando (FL), Oxnard (CA), Philadelphia, Portland (OR), Presidio (TX), Raleigh (NC), Salt Lake City, San Bernardino (CA), Santa Ana (CA), Seattle, Tucson (AZ), Yuma (AZ); note - Washington DC Consular Section is located in a separate building from the Mexican Embassy and has jurisdiction over DC, parts of Virginia, Maryland, and West Virginia
Diplomatic representation from the US:
chief of mission: Ambassador Roberta JACOBSON (since 20 June 2016)
embassy: Paseo de la Reforma 305, Colonia Cuauhtemoc, 06500 Mexico, Distrito Federal
mailing address: P. O. Box 9000, Brownsville, TX 78520-9000
telephone: (01-55) 5080-2000
FAX: (01-55) 5080-2005
consulate(s) general: Ciudad Juarez, Guadalajara, Hermosillo, Matamoros, Merida, Monterrey, Nogales, Nuevo Laredo, Tijuana
Flag description:
three equal vertical bands of green (hoist side), white, and red; Mexico's coat of arms (an eagle with a snake in its beak perched on a cactus) is centered in the white band; green signifies hope, joy, and love; white represents peace and honesty; red stands for hardiness, bravery, strength, and valor; the coat of arms is derived from a legend that the wandering Aztec people were to settle at a location where they would see an eagle on a cactus eating a snake; the city they founded, Tenochtitlan, is now Mexico City
note: similar to the flag of Italy, which is shorter, uses lighter shades of red and green, and does not display anything in its white band
National symbol(s):
golden eagle; national colors: green, white, red
National anthem:
name: "Himno Nacional Mexicano" (National Anthem of Mexico)
lyrics/music: Francisco Gonzalez BOCANEGRA/Jaime Nuno ROCA
note: adopted 1943, in use since 1854; also known as "Mexicanos, al grito de Guerra" (Mexicans, to the War Cry); according to tradition, Francisco Gonzalez BOCANEGRA, an accomplished poet, was uninterested in submitting lyrics to a national anthem contest; his fiancee locked him in a room and refused to release him until the lyrics were completed

Economy

Economy - overview:
Mexico's $2.4 trillion economy – 11th largest in the world - has become increasingly oriented toward manufacturing since the North American Free Trade Agreement (NAFTA) entered into force in 1994. Per capita income is roughly one-third that of the US; income distribution remains highly unequal.
Mexico has become the US' second-largest export market and third-largest source of imports. In 2016, two-way trade in goods and services exceeded $579 billion. Mexico has free trade agreements with 46 countries, putting more than 90% of its trade under free trade agreements. In 2012, Mexico formed the Pacific Alliance with Peru, Colombia, and Chile.
Mexico's current government, led by President Enrique PENA NIETO, has emphasized economic reforms, passing and implementing sweeping energy, financial, fiscal, and telecommunications reform legislation, among others, with the long-term aim to improve competitiveness and economic growth across the Mexican economy. Since 2015, Mexico has held public auctions of oil and gas exploration and development rights and for long-term electric power generation contracts. Mexico has also issued permits for private sector import, distribution, and retail sales of refined petroleum products in an effort to attract private investment into the energy sector and boost production.
Since 2013, Mexico’s economic growth has averaged 2% annually, falling short of private-sector expectations that President PENA NIETO’s sweeping reforms would bolster economic prospects. Growth is predicted to remain below potential given falling oil production, weak oil prices, structural issues such as low productivity, high inequality, a large informal sector employing over half of the workforce, weak rule of law, and corruption. In 2018, Mexico’s economy will be vulnerable to uncertainty surrounding the future of NAFTA—because the US is its top trading partner and the two countries share integrated supply chains—and to potential shifts in domestic policies following the inauguration of a new a president in December 2018.
GDP (purchasing power parity):
$2.406 trillion (2017 est.)
$2.356 trillion (2016 est.)
$2.303 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 12
GDP (official exchange rate):
$1.142 trillion (2017 est.)
GDP - real growth rate:
2.1% (2017 est.)
2.3% (2016 est.)
2.7% (2015 est.)
country comparison to the world: 149
GDP - per capita (PPP):
$19,500 (2017 est.)
$19,300 (2016 est.)
$19,000 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 90
Gross national saving:
21.2% of GDP (2017 est.)
21.1% of GDP (2016 est.)
20.4% of GDP (2015 est.)
country comparison to the world: 81
GDP - composition, by end use:
household consumption: 68%
government consumption: 12.5%
investment in fixed capital: 22.1%
investment in inventories: -1.3%
exports of goods and services: 37.4%
imports of goods and services: -38.7% (2017 est.)
GDP - composition, by sector of origin:
agriculture: 3.9%
industry: 31.6%
services: 64% (2017 est.)
Agriculture - products:
corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
Industries:
food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
Industrial production growth rate:
0% (2017 est.)
country comparison to the world: 187
Labor force:
54.51 million (2017 est.)
country comparison to the world: 13
Labor force - by occupation:
agriculture: 13.4%
industry: 24.1%
services: 61.9% (2011 est.)
Unemployment rate:
3.6% (2017 est.)
3.9% (2016 est.)
note: underemployment may be as high as 25%
country comparison to the world: 40
Population below poverty line:
46.2%
note: from a food-based definition of poverty; asset-based poverty amounted to more than 47% (2014 est.)
Household income or consumption by percentage share:
lowest 10%: 2%
highest 10%: 40% (2014 est.)
Distribution of family income - Gini index:
48.2 (2014 est.)
48.3 (2008 est.)
country comparison to the world: 25
Budget:
revenues: $292.8 billion
expenditures: $314.9 billion (2017 est.)
Taxes and other revenues:
25.6% of GDP (2017 est.)
country comparison to the world: 109
Budget surplus (+) or deficit (-):
-1.9% of GDP (2017 est.)
country comparison to the world: 82
Public debt:
51.5% of GDP (2017 est.)
50.2% of GDP (2016 est.)
country comparison to the world: 99
Fiscal year:
calendar year
Inflation rate (consumer prices):
5.9% (2017 est.)
2.8% (2016 est.)
country comparison to the world: 181
Central bank discount rate:
6.25% (31 December 2017 est.)
5.25% (31 December 2016 est.)
country comparison to the world: 66
Commercial bank prime lending rate:
7.3% (31 December 2017 est.)
4.72% (31 December 2016 est.)
country comparison to the world: 115
Stock of narrow money:
$235.5 billion (31 December 2017 est.)
$186.8 billion (31 December 2016 est.)
country comparison to the world: 24
Stock of broad money:
$772.5 billion (31 December 2017 est.)
$603 billion (31 December 2016 est.)
country comparison to the world: 18
Stock of domestic credit:
$510.2 billion (31 December 2017 est.)
$393.8 billion (31 December 2016 est.)
country comparison to the world: 27
Market value of publicly traded shares:
$402.3 billion (31 December 2015 est.)
$480.2 billion (31 December 2014 est.)
$526 billion (31 December 2013 est.)
country comparison to the world: 26
Current account balance:
$-19.81 billion (2017 est.)
$-22.97 billion (2016 est.)
country comparison to the world: 190
Exports:
$406.5 billion (2017 est.)
$374.3 billion (2016 est.)
country comparison to the world: 13
Exports - commodities:
manufactured goods, electronics, vehicles and auto parts, oil and oil products, silver, plastics, fruits, vegetables, coffee, cotton; Mexico is the world's leading producer of silver
Exports - partners:
US 81% (2016)
Imports:
$417.3 billion (2017 est.)
$387.4 billion (2016 est.)
country comparison to the world: 14
Imports - commodities:
metalworking machines, steel mill products, agricultural machinery, electrical equipment, automobile parts for assembly and repair, aircraft, aircraft parts, plastics, natural gas and oil products
Imports - partners:
US 46.6%, China 18%, Japan 4.6% (2016)
Reserves of foreign exchange and gold:
$189.2 billion (31 December 2017 est.)
$178.4 billion (31 December 2016 est.)
note: Mexico also maintains access to an $88 million Flexible Credit Line with the IMF
country comparison to the world: 14
Debt - external:
$480.5 billion (31 December 2017 est.)
$450.2 billion (31 December 2016 est.)
country comparison to the world: 27
Stock of direct foreign investment - at home:
$499.4 billion (31 December 2017 est.)
$473.5 billion (31 December 2016 est.)
country comparison to the world: 17
Stock of direct foreign investment - abroad:
$160.1 billion (31 December 2017 est.)
$148.6 billion (31 December 2016 est.)
country comparison to the world: 30
Exchange rates:
Mexican pesos (MXN) per US dollar -
18.26 (2017 est.)
18.66 (2016 est.)
18.66 (2015 est.)
15.85 (2014 est.)
13.29 (2013 est.)

Energy

Electricity access:
population without electricity: 1,231,667
electrification - total population: 99%
electrification - urban areas: 100%
electrification - rural areas: 97% (2012)
Electricity - production:
292.7 billion kWh (2015 est.)
country comparison to the world: 14
Electricity - consumption:
245.2 billion kWh (2015 est.)
country comparison to the world: 16
Electricity - exports:
7.308 billion kWh (2016 est.)
country comparison to the world: 28
Electricity - imports:
392 million kWh (2016 est.)
country comparison to the world: 86
Electricity - installed generating capacity:
65.45 million kW (2016 est.)
country comparison to the world: 19
Electricity - from fossil fuels:
72.2% of total installed capacity (2015 est.)
country comparison to the world: 99
Electricity - from nuclear fuels:
2.1% of total installed capacity (2015 est.)
country comparison to the world: 27
Electricity - from hydroelectric plants:
18.1% of total installed capacity (2015 est.)
country comparison to the world: 96
Electricity - from other renewable sources:
8.5% of total installed capacity (2015 est.)
country comparison to the world: 76
Crude oil - production:
2.187 million bbl/day (2016 est.)
country comparison to the world: 12
Crude oil - exports:
1.224 million bbl/day (2016 est.)
country comparison to the world: 15
Crude oil - imports:
0 bbl/day (2016 est.)
country comparison to the world: 165
Crude oil - proved reserves:
7.64 billion bbl (1 January 2017 est.)
country comparison to the world: 19
Refined petroleum products - production:
1.043 million bbl/day (2016 est.)
country comparison to the world: 19
Refined petroleum products - consumption:
2.027 million bbl/day (2016 est.)
country comparison to the world: 12
Refined petroleum products - exports:
181,600 bbl/day (2016 est.)
country comparison to the world: 34
Refined petroleum products - imports:
751,500 bbl/day (2016 est.)
country comparison to the world: 11
Natural gas - production:
40.37 billion cu m (2015 est.)
country comparison to the world: 21
Natural gas - consumption:
418.9 billion cu m (2015 est.)
country comparison to the world: 4
Natural gas - exports:
31 million cu m (2015 est.)
country comparison to the world: 52
Natural gas - imports:
36.47 billion cu m (2015 est.)
country comparison to the world: 12
Natural gas - proved reserves:
355.7 billion cu m (1 January 2017 est.)
country comparison to the world: 36
Carbon dioxide emissions from consumption of energy:
455 million Mt (2013 est.)
country comparison to the world: 15

Communications

Telephones - fixed lines:
total subscriptions: 20,454,644
subscriptions per 100 inhabitants: 16 (July 2016 est.)
country comparison to the world: 13
Telephones - mobile cellular:
total: 111,727,799
subscriptions per 100 inhabitants: 90 (July 2016 est.)
country comparison to the world: 15
Telephone system:
general assessment: adequate telephone service for business and government; improving quality and increasing mobile cellular availability, with mobile subscribers far outnumbering fixed-line subscribers; domestic satellite system with 120 earth stations; extensive microwave radio relay network; considerable use of fiber-optic cable and coaxial cable
domestic: competition has spurred the mobile-cellular market; fixed-line teledensity exceeds 15 per 100 persons; mobile-cellular teledensity is about 90 per 100 persons
international: country code - 52; Columbus-2 fiber-optic submarine cable with access to the US, Virgin Islands, Canary Islands, Spain, and Italy; the Americas Region Caribbean Ring System (ARCOS-1) and the MAYA-1 submarine cable system together provide access to Central America, parts of South America and the Caribbean, and the US; satellite earth stations - 120 (32 Intelsat, 2 Solidaridad (giving Mexico improved access to South America, Central America, and much of the US as well as enhancing domestic communications), 1 Panamsat, numerous Inmarsat mobile earth stations); linked to Central American Microwave System of trunk connections (2016)
Broadcast media:
many TV stations and more than 1,400 radio stations with most privately owned; the Televisa group once had a virtual monopoly in TV broadcasting, but new broadcasting groups and foreign satellite and cable operators are now available (2012)
Internet country code:
.mx
Internet users:
total: 73,334,032
percent of population: 59.5% (July 2016 est.)
country comparison to the world: 8

Transportation

National air transport system:
number of registered air carriers: 21
inventory of registered aircraft operated by air carriers: 357
annual passenger traffic on registered air carriers: 45,560,063
annual freight traffic on registered air carriers: 713,985,467 mt-km (2015)
Civil aircraft registration country code prefix:
XA (2016)
Airports:
1,714 (2013)
country comparison to the world: 3
Airports - with paved runways:
total: 243
over 3,047 m: 12
2,438 to 3,047 m: 32
1,524 to 2,437 m: 80
914 to 1,523 m: 86
under 914 m: 33 (2017)
Airports - with unpaved runways:
total: 1,471
over 3,047 m: 1
2,438 to 3,047 m: 1
1,524 to 2,437 m: 42
914 to 1,523 m: 281
under 914 m: 1,146 (2013)
Heliports:
1 (2013)
Pipelines:
gas 18,074 km; liquid petroleum 2,102 km; oil 8,775 km; oil/gas/water 369 km; refined products 7,565 km; water 123 km (2013)
Railways:
total: 15,389 km
standard gauge: 15,389 km 1.435-m gauge (27 km electrified) (2014)
country comparison to the world: 18
Roadways:
total: 377,660 km
paved: 137,544 km (includes 7,176 km of expressways)
unpaved: 240,116 km (2012)
country comparison to the world: 20
Waterways:
2,900 km (navigable rivers and coastal canals mostly connected with ports on the country's east coast) (2012)
country comparison to the world: 33
Merchant marine:
total: 622
by type: bulk carrier 5, general cargo 9, oil tanker 32, other 576 (2017)
country comparison to the world: 33
Ports and terminals:
major seaport(s): Altamira, Coatzacoalcos, Lazaro Cardenas, Manzanillo, Veracruz
container port(s) (TEUs): Manzanillo (1,992,176), Lazaro Cardenas (1,242,777) (2012)
oil terminal(s): Cayo Arcas terminal, Dos Bocas terminal
LNG terminal(s) (import): Altamira, Ensenada
cruise port(s): Cancun, Cozumel, Ensenada

Military & Security

Military expenditures:
0.58% of GDP (2016)
0.67% of GDP (2015)
0.67% of GDP (2014)
0.62% of GDP (2013)
0.59% of GDP (2012)
country comparison to the world: 141
Military branches:
Secretariat of National Defense (Secretaria de Defensa Nacional, Sedena): Army (Ejercito), Mexican Air Force (Fuerza Aerea Mexicana, FAM); Secretariat of the Navy (Secretaria de Marina, Semar): Mexican Navy (Armada de Mexico (ARM); includes Naval Air Force (FAN), Mexican Naval Infantry Corps (Cuerpo de Infanteria de Marina, Mexmar or CIM)) (2013)
Military service age and obligation:
18 years of age for compulsory military service, conscript service obligation is 12 months; 16 years of age with consent for voluntary enlistment; conscripts serve only in the Army; Navy and Air Force service is all voluntary; women are eligible for voluntary military service; cadets enrolled in military schools from the age of 15 are considered members of the armed forces (2012)

Transnational Issues

Disputes - international:
abundant rainfall in recent years along much of the Mexico-US border region has ameliorated periodically strained water-sharing arrangements; the US has intensified security measures to monitor and control legal and illegal personnel, transport, and commodities across its border with Mexico; Mexico must deal with thousands of impoverished Guatemalans and other Central Americans who cross the porous border looking for work in Mexico and the US; Belize and Mexico are working to solve minor border demarcation discrepancies arising from inaccuracies in the 1898 border treaty
Refugees and internally displaced persons:
refugees (country of origin): 29,495 (Venezuela) (economic and political crisis; includes Venezuelans who have claimed asylum or have received alternative legal stay) (2018)
IDPs: 345,000 (government's quashing of Zapatista uprising in 1994 in eastern Chiapas Region; drug cartel violence and government's military response since 2007; violence between and within indigenous groups) (2017)
stateless persons: 13 (2016)
Illicit drugs:
major drug-producing and transit nation; Mexico is estimated to be the world's third largest producer of opium with poppy cultivation in 2015 estimated to be 28,000 hectares yielding a potential production of 475 metric tons of raw opium; government conducts the largest independent illicit-crop eradication program in the world; continues as the primary transshipment country for US-bound cocaine from South America, with an estimated 95% of annual cocaine movements toward the US stopping in Mexico; major drug syndicates control the majority of drug trafficking throughout the country; producer and distributor of ecstasy; significant money-laundering center; major supplier of heroin and largest foreign supplier of marijuana and methamphetamine to the US market

Economic Indicators for Mexico including actual values, historical data, and latest data updates for the Mexico economy.