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Mexico - Country Profile

Mexico has a free market economy that recently entered the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is one-fourth that of the US; income distribution remains highly unequal. Trade with the US and Canada has tripled since the implementation of NAFTA in 1994. Mexico has 12 free trade agreements with over 40 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements. The government is cognizant of the need to upgrade infrastructure, modernize the tax system and labor laws, and provide incentives to invest in the energy sector, but progress is slow.


Economic Statistics
Exports : $182.4 billion f.o.b. (2004 est.)
Export
Commodities :
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton
Export
Partner
US 87.6%, Canada 1.8%, Spain 1.1% (2004)
Imports $190.8 billion f.o.b. (2004 est.)
Import
Commodities :
metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts
Imports
Partners :
US 53.7%, China 7%, Japan 5.1% (2004)