Focus on ... Newsletter
March 2019
March 20th 2019
ALSO IN 2019 GROWTH IS SLOW
Mexican economy has high dependence on the United States economy combined to high vulnerability related to changes in the NAFTA agreement. However, at the same time, membership of NAFTA itself, OECD, G20 and Public Alliance represent a strength. Recent improvement in fiscal position are reported but income distribution remains weak and the same time oil sector is suffering year of underinvestment. 2018 GDP was supported by domestic demand with strong household thanks to reconstruction works following the 2018 earthquake. GDP forecast 2019 is at the same level of 2018 at 2.0% (estimated) thanks to a constant employment growth, strong demand for manufacturing coming from United States and high remittance from Mexican leaving abroad. Mexico, differently from most Latin American economies, has been able to marginally reduce public debt since 2017. The main uncertainty for 2019 concerns how to balance new spending programs promised during electoral campaigns with increased infrastructure investment and the fiscal discipline.
Source: COFACE
Top export destinations: Top import origins are:
1) US 73% 1) US 51%
2) Canada 5.2% 2) China 15%
3) Germany 2.1% 3) Japan 4.2%
4) China 2.1% 4) Germany 4.2%
5) Japan 1.3% 5) South Korean 3.1%
Source: https://atlas.media.mit.edu
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