Overview of Mexico

Mexico's economy has achieved significant development in recent years, especially in the manufacturing industry. Mexico is a member of the USMCA (formerly the North American Free Trade Area) and has signed free trade agreements with 50 countries. Mexico's manufacturing industry has been at the forefront of the world for the past 15 years and will become the largest source of imported goods for the United States in 2023. Foreign direct investment has also reached a historic high, with 50% flowing into the manufacturing industry, mainly from the United States.

Mexico is a country with a land area of over 1.94 million square kilometers and a population of approximately 129 million, with a total GDP of $1.8 trillion and a per capita GDP of $14000. Mexico's economy ranks 12th globally and is one of the strongest developing countries in terms of economic strength.

Mexico is one of the countries with the most trade agreements signed, having signed 13 free trade agreements with approximately 50 countries and regions worldwide by the end of 2023. In 2023, Mexico attracted a record high of $36.058 billion in foreign direct investment. In the first half of this year, foreign companies announced an investment amount of $45.464 billion in Mexico, which is expected to be in place within two to three years, with 53% going to the manufacturing industry.

Mexico's economic growth rate is slow, but its foreign direct investment (FDI) maintains strong growth. In 2023, FDI will account for 11.3% of GDP, becoming an important driving force for economic growth. In the first half of this year, Mexico's real gross domestic product (GDP) grew at a year-on-year rate of 1.8%, with investment contributing 1.856% to GDP growth.

Mexico's manufacturing industry, especially the automobile manufacturing industry, has developed rapidly and has become an important center of global automobile manufacturing. Mexico produces approximately 3.5 million cars annually, ranking as the seventh largest producer of passenger cars in the world. In foreign investment, the United States and China rank among the top, especially in the manufacturing sector.