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 2017, two-way trade in goods and services exceeded $623 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. Mexico’s economy remains vulnerable to uncertainty surrounding the future of NAFTA — because the United States 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):
$2.463 trillion (2017 est.)
$2.413 trillion (2016 est.)
$2.346 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 11
[see also: GDP country ranks ]

GDP (official exchange rate):
$1.151 trillion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2017 est.)
2.9% (2016 est.)
3.3% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 152
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$19,900 (2017 est.)
$19,700 (2016 est.)
$19,400 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 90
[see also: GDP - per capita country ranks ]

Gross national saving:
21.4% of GDP (2017 est.)
21.6% of GDP (2016 est.)
20.7% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 85
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 67% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 11.8% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.3% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0.8% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 37.8% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -39.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 3.6% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 31.9% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 64.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

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:
-0.6% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 174
[see also: Industrial production growth rate country ranks ]

Labor force:
54.51 million (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 12
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 13.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 24.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 61.9% (2011)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
3.4% (2017 est.)
3.9% (2016 est.)
note: underemployment may be as high as 25%
country comparison to the world (CIA rank, may be based on non-current data): 42
[see also: Unemployment rate country ranks ]

Population below poverty line:
46.2% (2014 est.)
note: from a food-based definition of poverty; asset-based poverty amounted to more than 47%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 40% (2014)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
48.2 (2014)
48.3 (2008)
country comparison to the world (CIA rank, may be based on non-current data): 24
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 261.4 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 273.8 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
22.7% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 131
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.1% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 83
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
54.3% of GDP (2017 est.)
56.8% of GDP (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 82
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
6% (2017 est.)
2.8% (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 186
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
7.25% (31 December 2017)
5.75% (31 December 2016)
country comparison to the world (CIA rank, may be based on non-current data): 44
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
7.34% (31 December 2017 est.)
4.72% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 113
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$215.5 billion (31 December 2017 est.)
$186.6 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 24
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$215.5 billion (31 December 2017 est.)
$186.6 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 24
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$431.6 billion (31 December 2017 est.)
$393.8 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 28
[see also: Stock of domestic credit country ranks ]

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 (CIA rank, may be based on non-current data): 25
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$19.35 billion (2017 est.)
-$23.32 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 198
[see also: Current account balance country ranks ]

Exports:
$409.8 billion (2017 est.)
$374.3 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 12
[see also: Exports country ranks ]

Exports - partners:
US 79.9% (2017)

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

Imports:
$420.8 billion (2017 est.)
$387.4 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 14
[see also: Imports country ranks ]

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 46.4%, China 17.7%, Japan 4.3% (2017)

Reserves of foreign exchange and gold:
$175.3 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 (CIA rank, may be based on non-current data): 14
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$445.8 billion (31 December 2017 est.)
$450.2 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 28
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$554.3 billion (31 December 2017 est.)
$473.5 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 16
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$243.8 billion (31 December 2017 est.)
$148.6 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 25
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Mexican pesos (MXN) per US dollar -
18.26 (2017 est.)
18.664 (2016 est.)
18.664 (2015 est.)
15.848 (2014 est.)
13.292 (2013 est.)