Economy of Mexico
Mexico is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Mexico may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Mexico exports around $370.9 billion and imports roughly $370.7 billion. 3.6% of population in the country are unemployed. The total number of unemployed people in Mexico is 4,707,327. In Mexico, 46.2% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Mexico is very high when compared with other nations. This situation is indicative of a variety of alarming economic and political factors. It is not advisable to make any investments in countries with this level of poverty. Government expenditure on education is 4.8% of GDP. The Gini Index of the country is 48.3. Mexico is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. Mexico has a Human Development Index (HDI) of 0.756. Mexico has a high HDI score. This indicates that the majority of citizens will be able to attain a desirable life while providing substantial aid and assistance to citizens with lower living standards. The Global Peace Index (GPI) for Mexico is 2.53. The strength of legal rights index for Mexico is 10. Overall, it is considered to be rather strong - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible.
Currency
The currency of Mexico is Mexican peso. The plural form of the word Mexican peso is pesos. The symbol used for this currency is Mex$, and it is abbreviated as MXN. The Mexican peso is divided into Centavo; there are 100 in one peso.
Credit rating
The depth of credit information index for Mexico is 8, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Mexico has a credit rating score of BBB+, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Mexico has a credit rating score of BBB+, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Mexico has a credit rating score of A3, and the prospects of this rating are stable.
Central bank
In Mexico, the institution that manages the state's currency, money supply, and interest rates is called Bank of Mexico. Locally, the central bank of Mexico is called Banco de México. The average deposit interest rate offered by local banks in Mexico is 0.8%.
Public debt
Mexico has a government debt of 17.5% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information
The corporate tax in Mexico is set at 30%. Personal income tax ranges from 1.92% to 35%, depending on your specific situation and income level. VAT in Mexico is 16%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Mexico is $2148884 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Mexico was last recorded at $16 million. PPP in Mexico is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Mexico is 1,259,201 billion. Based on this statistic, Mexico is considered to have a large economy. Countries with large economies support a wide variety of industries and businesses, providing ample opportunities for investment. Large economies support a substantial financial sector, making it easy to organize investments and financial transactions. It should be very easy to find good opportunities for investment in Mexico. The Gross Domestic Product (GDP) per capita in Mexico was last recorded at $10 million. The average citizen in Mexico has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Mexico averaged 2.4% in 2014. According to this percentage, Mexico is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Mexico.
Industry
Major industries in the country are food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism. The total labor force of Mexico is 58,072,550 people, wherein 3.6% of population in the country are unemployed. The total number of unemployed people in Mexico is 4,707,327. The Industrial Production growth rate of Mexico is 6%.To read more about industrial information within Mexico click on industry of Mexico.
Agriculture
There are 243457 km2 of arable land in Mexico, and it comprises 12% of the country's total territory. There are 268072 km2 of cultivated land in Mexico. The country's major agricultural crops and products are corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes, beef, poultry, dairy products, wood products.To read more about agriculture click on agriculture of Mexico.