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The economy of Mexico is a developing mixed-market economy. [ 21 ] It is the 12th largest in the world in nominal GDP terms and by purchasing power parity as of 2024. [ 4 ] Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals.
Mexico is a newly industrialized and developing country, [16] with the world's 12th-largest economy by nominal GDP and 12th-largest by PPP. Mexico ranks first in the Americas and seventh in the world by the number of UNESCO World Heritage Sites. [17] It is also one of the world's 17 megadiverse countries, ranking fifth in natural biodiversity. [18]
Mexico benefited from its participation in World War II, and the post-war years experienced what has been called the Mexican Miracle (ca. 1946–1970). This growth was fueled by import substitution industrialization (ISI). The Mexican economy experienced the limits of ISI and economic nationalism in the 1970s.
List of Mexican states by GDP. The following list shows the GDP (nominal) of Mexico 's 32 states as of 2022, ranked in order. Overall, in the calendar year 2022, the Nominal GDP of Mexico at Current Prices totaled at US$1.42 trillion, as compared to US$1.27 trillion in 2021. Mexican states by GDP (2022)
Mexico. Mexico is an upper middle income country focused on manufacturing goods and free trade agreements with around 40-50 countries. It has 2.458 trillion dollars in GDP (purchasing power parity) making it the 15th largest economy in the world. [5] It is a member of the OECD, NAFTA, APEC, WTO, and the G20.
Mexico suffered from a massive debt crisis in 1982, resulting in the country requesting emergency financing from the IMF. Despite an early period of economic success, a decline in oil prices and an increase in US interest rates caused Mexico to double its debt from 1979 to 1982 causing an excess inflation rate of nearly 60% of its GDP. [6]
Starting in 1918 and extending into the 1920s, Mexico was second behind the United States in petroleum output and led the world in oil exports. Oil production and exports from 1921 to 1925 were at historic high levels. In 1921, production was, in barrels of 42 gallons each, 193 million, with exports of 172 million.
Mexico portal. v. t. e. USD / MXN exchange rate. Mexico inflation rate 1970-2022. The Mexican peso crisis was a currency crisis sparked by the Mexican government's sudden devaluation of the peso against the U.S. dollar in December 1994, which became one of the first international financial crises ignited by capital flight.