Analysis and Studies - Country Analysis
Mexico: a look at the market
December 1st 2023
Mexico, officially the United Mexican States, is a country situated in the south of North America and its bordered to the north by the United States; to the south and west by the Pacific Ocean.
Mexico is the world’s 13th largest country by area with a population of almost 130 million and it’s also the 10th most crowded country and has the most Spanish speakers.
Mexico is a federal republic made up of 31 states and Mexico city, its capital.
A look at the market
As of April 2018, Mexico has the 15th largest nominal GDP (US$1.15 trillion) and the 11th largest by purchasing power parity (US$2.45 trillion). GDP annual average step up was 2.9% in 2016 and 2% in 2017.
Agriculture has incorportaed 4% of the economy over the last two decades, while industry contributes 33% (mostly automotive, oil, and electronics) and services (notably financial services and tourism) contribute 63%.
Mexico's GDP in PPP per capita was US $18,714.05. In 2009 The World Bank reported that the country's gross national taxable- income in market exchange rates was the second highest in Latin America, after Brazil at US $1,830.392 billion, which kick off the highest income per capita in the region at $15,311.
Mexico is now sturdily established as a topmost middle-income country. After the slacking-off in 2001 the country has took back and has grown in the next years.
Even though it’s considered to be well lower down Mexico's potential growth. The International Monetary Fund soothsays growth rates of 2.3% and 2.7% for 2018 and 2019, respectively. By 2050, Mexico could possibly become the world's fifth or seventh largest economy.
The electronics industry of Mexico has shot up within the last decade. Mexico has the sixth largest electronics industry in the world after China, the United States, Japan, South Korea, and Taiwan.
Furthermore, Mexico is the second-largest exporter of electronics to the United States where it exported $71.4 billion worth of electronics in 2011.
The Mexican electronics industry rise up by 20% between 2010 and 2011, up from its constant growth rate of 17% between 2003 and 2009. At the time electronics represent 30% of Mexico's exports.
Related to exports and imports market, in 2021, Mexico exported a total of $474 billion, making it the twelve exporter in the world. During the last five reported years the exports of Mexico have switched by $95.5 billion from $378 billion in 2016 to $474 billion in 2021.
The most recent exports are in charged by Cars ($41.5B), Motor vehicles; parts and accessories )($30.7B), Computers ($30.3B), Delivery Trucks ($27.1B), and Crude Petroleum ($20.3B). The most common destination for the exports of Mexico are United States ($361B), Canada ($17.4B), China ($9.82B), Chinese Taipei ($8.05B), and Germany ($7.63B).
Fonti:
https://oec.world/en
https://data.worldbank.org/
https://www.trademap.org/