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2020/09/29 18:06:42

Economy of Mexico

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Content

Main article: Mexico

GDP

Main article: Mexico's GDP

Financial system

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

2022: Inflation in November - 8.4%

Data for November 2022

Power

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

Mining

World leader in silver mining

Data for 2018

Copper mining

Main article: Copper mining and production

Copper mining by country in 2018

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

Industry

2023: Industrial Parks Map

As of September 2023
Business Investment Dynamics for Equipment Procurement in Mexico

Agriculture

2021: Share of farmland - 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

Equestrian industry

Transport

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

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.

Billions of dollars are pouring into America's southern neighbor.

Data available for November 2024
Mexico ranks 7th in U.S. clothing exports

2022: US is the biggest export destination

According to data available for August 2023.

2021: Online sales share 12.4% of total retail sales

As of 2021

2019

Exporting Computer Devices

The volume of exports of computer devices in countries of the world, 2019

The Impact of the Trump Administration's Trade Restrictions

Tourism

2022: Reduced number of foreign tourists to 38 million

2020:35 UNESCO-protected World Heritage Sites

The number of UNESCO-protected World Heritage Sites as of August 2020

2019: How much Mexico is dependent on tourism:% of industry in GDP

Which countries are most dependent on tourism,% of the industry in GDP, 2019

2018: Mexico is among the top countries in terms of tourism revenue

Data for 2018

IT market

Proportion of residents without a smartphone

Share of residents of countries without a smartphone, 2018

R&D

2020: R&D spending - $11.6 billion

R&D expenses as of 2020

Alcohol market

Tequila production

Main article: Tequila production in Mexico

2021: Mexico is the 5th country in the world in terms of beer consumption

Labour market

2022: Proportion of workers aged 65 or over - above 20%

Data for 2022

Unemployment

2023: Youth unemployment - 5.2%

2020: Unemployment rate - 5.2%

Countries around the world in terms of unemployment in 2020

Incomes of the population

2023: Minimum wage - $315

Minimum wage in countries of the world for January 2023

Pensions

2020: Average retirement age for women is 62, for men it is 66

Average retirement age in some countries around the world in 2020

Consumption

2023

Twelfth place in the world in the number of cars sold - 1.4 million units

Countries with the largest car sales in 2023

Poultry meat is the most consumed type of meat

The most consumed type of meat (including fish and seafood) according to data available for June 2023.

2022: Cut vegetarian share to 2.4%

Data for 2022

2018: Minimum age to purchase alcoholic beverages - 18 years

Data for 2018

See also