MEXICO is the 16th economy in the world in terms of, and the 21th most complex economy according to the Economic Complexity Index (ECI).Foreign trade accounts for a large share of the economy. Mexico trade ranks 11th among the world economies in exports and12thinimports, with a total merchandise trade of 928 billion USD in 2019.
Mexico is also the 10th most populated country in the world with a population of 127 million.
The country has 12 free trade agreements (FTAs) with 46 countries, including the USA, EU, Japan, and the Pacific Alliance (Colombia, Peru and Chile); 32 Investment Protection Agreements, and 9 Economic Partnership Agreements within the framework of the Latin America Integration Association.
Mexico, together with the United States and Canada are bringing North American free trade into the 21st century with the new United States–Mexico–Canada Agreement (USMCA), making the region the most economically competitive in the world, with over 490 million consumers and a production of goods and services valued at more than $23 trillion every year.
Find out more about Mexico’s economy and manufacturing industry in our document “Mexico’s Economic Outlook 2021”. Available for downloading.