Mexican Economy Overview:

Today we will discuss the Mexican economy. Its official full name is called the United Mexican States. His capital name and its largest city name is Mexico City. Its official and national language is Spanish.

When we talk about its religion, in Mexico, 88% of Christians live in Mexico. 10% of Mexicans have no religion, 77% are Catholicism, 11% others Christian and 0.2% others. When we talk about its government system, we can see that Mexico has a Federal Presidential constitutional republic and its president is Andres Manuel Lopez Obrador.

It has two legislative houses, the upper house, and the lower house. The upper house’s name is the senate and the lower house is called the Chamber of deputies. When we talk about its area, similarly its total area is around 1,972,540 km sq. Its total population is 126,014,400 by the year 2020. Her population world rank is 10th.

Its currency is called the Mexican peso.

Mexican Economy:

Mexican total GDP is $1.19 trillion (nominal) and $ 3.60 trillion (PPP), by the year 2021. Its GDP rank is 15th (nominal) and 12th (PPP), in the year 2019. Its GDP growth rate is 3.3% in the year 2021. When we talk about its GDP per capita, however its GDP per capita is $10,200 (nominal) and $20,800 (PPP), in the year 2019.

Its GDP per capita rank is 64th (nominal) and 63rd (PPP), in the year 2019. When we talk about its GDP by sector, so 64% services, manufacturing 31%, agriculture 3.6%, and others.

The inflation rate in Mexico is 2.7% in the year 2020. When we talk about its poverty, therefore its population 42% lives below the poverty line. When we talk about the Rate of human development index, similarly the human development index rate is 0.779 in the year 2019 which is considered high in the world.

In Mexico, amount of total labor force is 57,558,800. Mexican labor force by occupation rate is services: 61%, Industry: 24%, agriculture:13%, and others. The unemployment rate in Mexico is 5.3% in the year 2020.

Exports:

Mexican total exports are $500 billion in the year 2019. Its main exports goods are electronics, auto parts, oil and oil products, plastics, fruits, etc. Its main export partners are the United States, Canada, China, Spain, etc.

Imports:

Its total imports are $470 billion in the year 2019. His main import goods are metal works machines, steel products, agriculture, electrical equipment, automobile parts, and others. Its main import partners are the United States, China, Germany, Japan, South Korea, and others.

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