Mexico
Mexico operates a free market economy valued in the trillion-dollar range. It is a blend of modern and outdated industry and agriculture, with a growing dominance by the private sector.
Recent reforms have expanded competition in key sectors, including:
- Seaports
- Railroads
- Telecommunications
- Electricity generation
- Natural gas distribution
- Airports
Per capita income is approximately one-third that of the United States, and income inequality remains a pressing issue.
Since the implementation of NAFTA in 1994:
- Mexico’s share of U.S. imports has increased from 7% to 12%
- Its share of Canadian imports has doubled to 5%
Mexico now holds free trade agreements with over 50 countries, including:
- Guatemala
- Honduras
- El Salvador
- The European Free Trade Area
- Japan
More than 90% of trade is covered under these agreements.
Under President Felipe CALDERON, Mexico achieved significant reforms:
- 2007: Pension and fiscal reform
- 2008: Energy sector reform
- 2009: Additional fiscal reform
During the 2009 global downturn, Mexico’s GDP declined by 6.5% due to falling exports and asset values. However, the economy rebounded in 2010 with a 5% GDP growth, led by strong export performance.
Ongoing economic priorities include:
- Improving public education
- Upgrading infrastructure
- Modernizing labor laws
- Encouraging private energy investment
CALDERON has emphasized that reducing poverty and creating jobs remain top priorities.
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