Mexico economy. Since the 1994 crisis administrations have improved the countrys macroeconomic fundamentals. Mexico was not significantly influenced by the 2002 south american crisis and maintained positive. Its overall score has increased by 13 points due primarily to a higher score for government integrity.
In 2017 the united states received 79 of mexicos exports. Between 2001 and 2008 the economy grew at a small but steady pace. A battered labor market and voluntary social distancing will pummel consumer spending while weak confidence and elevated uncertainty will undermine investment.
Mexico has a workforce of 53. The global financial crisis in late 2008 caused a massive economic downturn in mexico the following year although growth returned quickly in 2010. The world bank group engagement with the country is structured around a model that provides development solutions adapted to the country with an integral package of financial knowledge and convening services.
It is the 15th largest in the world in nominal terms and the 11th largest by purchasing power parity according to the international monetary fund. The economy of mexico is a developing market economy. Currently the economy of mexico is the 15th largest in the world.
The global economic crisis of 2008 resulted in a gdp decline of more than 6. In 2016 its nominal gross domestic product gdp was 11 trillion and gdp per capita was 8700. Mexicos economy depends on exports mexico is the 12th largest exporter in the world.
Mexico is the second largest economy in latin america. Mexico economic growth the economy is poised to shrink markedly this year as the pandemic ravages domestic and foreign demand. Left leaning antiestablishment politician and former mayor of mexico city 2000 05 andres manuel lopez obrador from the national regeneration movement morena became president in december 2018.
Trade with the united states and canada has tripled since naftas signing in 1994. Mexicos economic freedom score is 660 making its economy the 67th freest in the 2020 index. Mexico has the 15th largest economy in the world by nominal gross domestic product gdp and the 66th largest in gdp per capita based on purchasing power parity ppp.