Mexico - Mexico Economy GDP(official exchange rate $1...

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Mexico Economy GDP (official exchange rate): $1 trillion (2010 est.); $876 billion (2009); $1.088 trillion (2008). GDP (PPP method): $1.459 trillion (2009 est.); $1.550 trillion (2008). Per capita GDP (PPP method): $13,542 (2009 est.); $14,534 (2008). Annual real GDP growth: 4.5% (2010 est.); -6.5% (2009); 1.3% (2008); 3.3% (2007); 5.1% (2006); 3.2% (2005). Inflation rate: 4.6% (2010 est.); 3.57% (2009); 6.5% (2008); 3.8% (2007); 3.4% (2006); 3.3% (2005). Natural resources: Petroleum, silver, copper, gold, lead, zinc, natural gas, timber. Agriculture (4% of GDP): Products --corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes, beef, poultry, dairy products, wood products. Industry (31% of GDP): Types --food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables. Services (64% of GDP): Types --commerce and tourism, financial services, transportation and communications. Trade (goods): Exports (2009)--$230 billion f.o.b. Imports (2009)--$234 billion f.o.b. Exports to U.S. (2009)--$185 billion (80% of total). Imports from U.S. (2009)--$112 billion (48% of total). Major markets --U.S., EU (5% of total), Canada (3.6% of total). ECONOMY Mexico is classified by the World Bank as an upper-middle-income country. Poverty is widespread (around 44% of the population lives below the poverty line) and high rates of economic growth are needed to create legitimate economic opportunities for new entrants to the work force. The Mexican economy in 2009 experienced its deepest recession since the 1930s. Gross domestic product (GDP) contracted by 6.5%, driven by weaker exports to the United States; lower remittances and investment from abroad; a decline in oil revenues; and the impact of H1N1 influenza on tourism. Mexico's trade regime is built upon free trade agreements with the United States, Canada, the European Union, and many other countries (44 total). Since the 1994 devaluation of the peso, successive Mexican governments have improved the country's macroeconomic fundamentals. Inflation and public sector deficits are under control, while the current account balance and public debt profile have improved. Mexico’s sovereign debt remains investment-grade, with a stable outlook. Mexico is a major recipient of remittances, sent mostly from Mexicans in the United States. Remittances average around U.S. $21 billion per year, and are the country’s second-largest
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This note was uploaded on 07/13/2011 for the course SPEECH 151 taught by Professor Staff during the Spring '11 term at Cornell.

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Mexico - Mexico Economy GDP(official exchange rate $1...

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