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MEXICO PROFILE |
Mexico is a nation where affluence, poverty, natural splendor and urban blight rub shoulders.
People
Population: 109,955,400.
Annual growth rate: 2%.
Ethnic groups: Indian-Spanish (mestizo) 60%, Indian 30%, Caucasian 9%, other 1%.
Religions: Roman Catholic 89%, Protestant 6%, other 5%.
Language: Spanish.
Cities: Capital--Mexico City (19.2 million, 2006 estimate for metro area). Other major cities--Guadalajara, Monterrey, Puebla, Ciudad Juarez, Tijuana, Acapulco, Merida, Leon, Veracruz.
Mexico is the most populous Spanish-speaking country in the world and the second most-populous country in Latin America after Portuguese-speaking Brazil. About 76% of the people live in urban areas. Many Mexicans emigrate from rural areas that lack job opportunities--such as the underdeveloped southern states and the crowded central plateau--to the industrialized urban centers and the developing areas along the U.S.-Mexico border. According to some estimates, the population of the area around Mexico City is nearly 20 million, which would make it the largest concentration of population in the Western Hemisphere. Cities bordering on the United States--such as Tijuana and Ciudad Juarez--and cities in the interior--such as Guadalajara, Monterrey, and Puebla--have undergone sharp rises in population in recent years.
Economy:
GDP (market exchange rate, 2007 est.): USD 893 billion.
GDP (PPP method, 2007 est.): USD 1.353 trillion.
Per capita GDP (PPP method, 2007 est.): USD 12,400.
Annual real GDP growth: (2007) 3.3%; (2006) 4.8%; (2005) 3.0%; (2004) 4.4%; (2003) 1.4%; (2002) 0.8%; (2001) -0.2%; (2000) 6.6%.
Mexico is highly dependent on exports to the U.S., which represent more than a quarter of the country's GDP. The result is that the Mexican economy is strongly linked to the U.S. business cycle, and has suffered from the economic slowdown in the United States. Real GDP grew by 4.8% in 2006 and by 3.3% in 2007, but is expected to grow only by about 2% in 2008 and from 0.5% to 1.5% in 2009.
Mexico's trade regime is among the most open in the world, with free trade agreements with the U.S., Canada, the EU, and many other countries (44 total). Since the 1994 devaluation of the peso, successive Mexican governments have improved the country's macroeconomic fundamentals. Inflation and public sector deficits are under control, while the current account balance and public debt profile have improved. As of October 2008, Moody's, Standard & Poor's, and Fitch Ratings had all issued investment-grade ratings for Mexico's sovereign debt. |
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