Mexico's Economy
Mexico at a Glance
An overview of Mexico's economy - size, industries, ties to the United States and its position as a large middle-income country.
Mexico is one of the largest economies in Latin America.
Size
- Population of around 130 million.
- Among the world’s 15 largest economies.
- An upper-middle-income country.
Key sectors
- Manufacturing: cars, electronics, appliances and aerospace parts.
- Oil: through state company Pemex.
- Tourism: Cancún, Mexico City and beach resorts.
- Agriculture: avocados, tomatoes and berries for the US.
- Services and remittances.
US ties
- Around 80 percent of Mexico’s exports go to the United States.
- In 2023, Mexico became the US’s largest trading partner, overtaking China.
Inequality
Mexico has high inequality and large regional gaps between the industrial north and poorer south.
Why study Mexico
Mexico shows the benefits and risks of deep integration with a giant neighbour.
The avocado trade
Most avocados eaten in the US come from Michoacán in Mexico, showing how closely the two economies are linked.
Thinking Mexico mainly exports oil
Manufactured goods like cars and electronics dominate exports.
Key takeaways
- Mexico has around 130 million people.
- Manufacturing, oil, tourism and farming are key.
- About 80 percent of exports go to the US.
- Mexico became the US's largest trading partner in 2023.
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