Mexico Tourism

Archive for the ‘Mexico Business And Economy’ Category

The Mexican economy is said to be the 13th largest in the world as per the statistics available from the World Bank. The economy of Mexico is a free market economy and it has benefitted a lot from the NAFTA. Due to this agreement the business of the economy with Canada and United States has increased tremendously and overall the economy has trading relations with 40 countries. From the year 1995 to 2002 the GDP of the country is said to have grown at the rate of 5.1% annually. The recession that hit the world and more so the US economy had a great impact on the economy of Mexico and the GDP dropped to 3-4.1% in 2005.

The situation worsened in 2009 where there was an outbreak of flu. There is a high level of inflation seen in the Mexican economy in the past few years. There is a heavy dependence on the US economy and this affects the business and trade in Mexico. In the year 2010, one can see better and improved results in the economy of the country and it is seen to move on the path of recovery. The growth figures have increased to 3.9% from 3% and this is mainly due to the increase in automobile production, exports, increased imports of consumer goods and manufacturing. There is an increase in the elvel of employment also though there is not an even distribution of income in the Mexican economy where 55% of the total income is earned by 32% of the people.