2020/09/29 18:06:42

Economy of Mexico

Content

GDP
Financial system
Mining
Power
Industry
Real estate
- 2021: Low level of housing provision for the population
Agriculture
Transport
- 2025: 4th place in the number of airports among countries of the world - 1580
- 2024: The operation of 13 airports in Mexico is paralyzed by a ransomware virus attack. Hackers demand ransom
Trade
Tourism
IT market
- Smartphone market
  - 2021: Mexico ranks 8th in the world in the number of smartphone users - 75 million people
  - 2018: Proportion of residents without a smartphone
R&D
- 2020: R&D spending - $11.6 billion
Alcohol market
Labour market
- 2022: Proportion of workers aged 65 or over - above 20%
- Unemployment
  - 2023: Youth unemployment - 5.2%
  - 2020: Unemployment rate - 5.2%
Incomes of the population
- 2025: Minimum wage - $2.01 per hour
- 2023: Minimum wage - $315
Pensions
- 2020: Pension granted from the age of 65, real retirement age for men - 66, for women - 63
Affluent class
- 2025:4 millionaires per 1,000 adults in the country
Consumption
See also

Main article: Mexico

GDP

Main article: Mexico's GDP

Financial system

National debt

2025: 12th in the world in terms of public debt: $1.1 trillion

As of October 2025

Non-financial debt

2022: Aggregate non-financial debt

Source: Spydell Finance, November 2022

Comparison of the 1 quarter of 2022 and the second quarter of 2008

Non-financial debt from September 2004 to March 2022

Inflation

2025: Inflation around 4%

2024: Inflation for 5 years 31%

Accumulated inflation over 5 years in the G-20 countries at the end of 2024:

Argentina: 13,910%

Turkey: 734%

Russia: 46%

Brazil: 35%

India: 34%

Mexico: 31%

South Africa: 28%

Britain: 25%

Holland: 24%

US: 23%

Australia: 21%

Germany: 21%

Spain: 19%

Canada: 19%

Italy: 18%

Singapore: 17%

France: 15%

South Korea: 15%

Indonesia: 15%

Saudi Arabia: 13%

Japan: 9%

Switzerland: 6%

China: 6%

2022: Inflation in November - 8.4%

Data for November 2022

Gold and foreign exchange reserves

2020: 16th in terms of gold and foreign exchange reserves: $199,056 million for December

Mining

Silver

2023: World's 1st largest silver miner

2018: World leader in silver mining

Data for 2018

Copper mining

Main article: Copper mining and production

Lithium mining

Main Article: Lithium (Global Market)

The "triangle" of South America and Mexico as of April 2022 accounts for 60% of the world's deposits.

2023: Creation of state-owned company LitioMx

In 2023, the state-owned company LitioMx should be created to extract lithium.

As of February 2023

2022: Mexico puts all lithium reserves under state control

On April 19, 2022, the plenum of the upper house of the Mexican Congress approved, in general, a reform of the mining law, establishing lithium as a national treasure and transferring to the state the exclusive rights to its exploration, development and industrial use.

The draft reform, which was initiated by the country's president, Andrés Manuel López Obrador, identifies lithium exploration, mining and use as an industry of national importance where private companies are not granted any concessions, licenses, contracts or permits.

Oil production

Oil production in thousands of barrels per day by country in 2021

2025: 10th in the world in rare earth reserves

Countries with the largest reserves of rare earths (in metric tons):

China: 44m

Vietnam: 22m

Brazil: 21m

Russia: 19 million

India: 6.9m

Australia: 4.2m

US: 2.3 million

Canada: 830,000

Myanmar: 510,000

Mexico: 290 000

USGS, Mineral Raw Material Summaries, January 2025

Power

2025:2 operating nuclear reactors

The number of operating nuclear reactors in countries around the world according to Bloomberg as of February 2025:

2020: Very low energy consumption per capita

and

Energy consumption per capita, including electricity, transport heating in 2019-2020

2019: Structure and dynamics of power generation capacity increase

The structure of energy generation in Latin America in 2019

Dynamics of increasing power generation capacity in Latin America

Industry

2024: Size of industrial production - $0.33 trillion

Data for 2024

2023: Industrial Parks Map

As of September 2023

Business Investment Dynamics for Equipment Procurement in Mexico

Metallurgy

2024: 6th in the world in terms of gold production - 130 tons

Data for 2024

Food industry

2021: 5th in the world in terms of sugar production

Real estate

2021: Low level of housing provision for the population

Data for 2021

Agriculture

2021

10th in the world for growing pineapples - 1.1 million tons

Data for 2021

Share of agricultural land - 55%

Доля agricultural land from the total area of the countries of the world, 2021

2019: Low use of pesticides in agriculture

As of 2019

2018: Horse industry

Transport

2025: 4th place in the number of airports among countries of the world - 1580

At the end of September 2025, a rating of the countries with the largest number of airports was published. The rating was formed by the Visual Capitalist resource based on data from the CIA World Factbook, an almanac reference book containing various information about countries around the world. Read more here.

2024: The operation of 13 airports in Mexico is paralyzed by a ransomware virus attack. Hackers demand ransom

In late October 2024, hackers attacked a service operator at 13 airports across Mexico, paralyzing its electronic systems. Grupo Aeroportuario del Centro Norte had to turn to backup systems to continue operations at airports in central and northern Mexico, serving more than 19 million passengers a year. Read more here.

Trade

2025: US imposes 25% tariffs on Mexican imports

From March 4, 2025, 25% US duties on Canadian and Mexican imports, as well as 20% duties on Chinese imports, officially entered into force.

2024

10th in terms of exports in the world

In 2024, the volume of world trade in goods and services reached $32.2 trillion, which is 4% more than in 2023, when a decrease of 2% was recorded. Trade in goods rose by 2%, services - by 10%. Such data are contained in the materials of the World Trade Organization (WTO), which TAdviser got acquainted with in mid-October 2025. Read more here.

1st in terms of imports to the United States with a trade surplus of $172 billion

The 10 largest importers in the United States in 2024:

1. Mexico: $476 billion

2. China: $427 billion

3. Canada: $421 billion

4. Germany: $160 billion

5. Japan: $147 billion

6. South Korea: $116 billion

7. Vietnam: $114 billion

8. India: $84 billion

9. Ireland: $82bn

10. Italy: $73 billion

Trade in U.S. goods with certain countries in 2023 and 2024

Very high volume of car exports to the United States: GM, Nissan and VW lead

Data for 2024

The largest truck importing countries in the United States in 2024

2023: Mexico formally bypasses China to become largest U.S. trading partner

Main article: US Foreign Trade

China is circumventing American languid tariffs by shipping more goods through Mexico.

The data suggests difficulties for the U.S. in displacing Chinese exporters from American supply chains.

The share of imports of goods from Mexico to the United States rose in July 2023 to 15%, the highest in 30 years. Mexico has become the largest importer in the US for the first time in a long time, overtaking China.