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The economy of Mexico is a developing mixed-market economy. [21] It is the 13th largest in the world in nominal GDP terms and by purchasing power parity as of 2024. [ 4 ] Since the 1994 crisis , administrations have improved the country's macroeconomic fundamentals .
Delegation of the European Union in Mexico City. The EU is Mexico's second largest export market after the United States, [6] [7] and Mexico is the EU's 12th export partner. [8] Mexico's main exports to the EU are mineral products, machinery, electrical and transport equipment and optical photo precision instruments.
"The economy of Mexico has an Economic Complexity Index (ECI) of 1.1 making it the 21st most complex country. Mexico exports 182 products with revealed comparative advantage (meaning that its share of global exports is larger than what would be expected from the size of its export economy and from the size of a product's global market)." [133]
The petroleum sector is a significant contributor to the Mexican economy, with oil revenues generating almost 7% of Mexico's export earnings. [3] In 2014, income from the petroleum sector made up 33% of public sector income, [ 4 ] and taxes on the revenues of the state-owned oil company Petróleos Mexicanos (Pemex) formed roughly 20% of all tax ...
Although silver mining brought many Spaniards to Mexico and silver was the largest single export from New Spain, agriculture was extremely important.There were far more people working in agriculture, not only producing subsistence crops for individual households and small-scale producers for local markets, but also commercial agriculture on large estates to supply Spanish cities.
The main economies of Latin America are Brazil, Argentina, Colombia, Mexico, and Chile. These economies have been given positive outlooks for 2017 by Morgan Stanley. [7] The Latin American economy is largely based on commodity exports, therefore, the global price of commodities has a significant effect on the growth of Latin American economies.
In 1982, the total amount of land in Mexico used for coffee production was 497,456 hectares. [5] In addition, during the 1970s and 1980s, coffee production played a significant role in the national economy and became a major source of income for more than two million people in Mexico.
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