Mexico Country Profile by Andaman Partners

Country Profiles

Mexico

Profile in Brief

Mexico has a GDP of USD 1.9 trillion (2024) with real GDP growth of 1.5%, driven by nearshoring-related investment and a strong trade relationship with its neighbour, the U.S.

Mexico has a total land area of 1.9 million square kilometres.

Government is a federal republic with a president.

Economy at a Glance
GDP Overview (2024)

Mexico’s GDP is forecast to reach USD 2 trillion in 2030, when GDP per capita is forecast to reach USD 15,589, which will be on the same level as Argentina and significantly higher than Brazil.

From 4% in 2020, the unemployment rate has decreased post-COVID-19 to 3% in 2024. Mexico’s currency has been volatile compared to its peers.

Central government debt has been low and stable at 24% in 2023. Household expenditure has been increasing rapidly post-COVID-19.

Trade Profile (2024)

Mexico’s total trade amounted to USD 1.2 trillion in 2024, with imports only slightly exceeding exports. Metals, Electronics & Machinery was the trade sector, followed by Transport Vehicles & Equipment.

Leading export partners (2024): U.S. (USD 503.3 billion), Canada (USD 18.6 billion), China (USD 9.1 billion).

Leading import partners (2024): U.S. (USD 252.2 billion), China (USD 129.8 billion), South Korea (USD 23.0 billion).

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