Mexico Economy - The World Bank classification of Economies by region and income FY 2005 considers Mexico an upper middle income Economy coming under Latin America and the Caribbean region.
In 1994-95 the financial crisis thrust millions of Mexicans into poverty. But presently there has been a rapid and impressive progress in building a modern, diversified economy, improving infrastructure and tackling the roots of poverty.
Mexico Economy has a free market economy system with a mixture of modern and outmoded industry and agriculture with an active role of the private sector. The steps towards more open economic system and more integration with the world economy has made the country a strong ownership in development strategy.
Mexico Economy And Key Economic Indicators
The Gross national Income (GNI) in the Atlas method have reached 703.1 billion (current US $) in the year
2004.
The percapita GNI has reached 6,770.0 (current US $) in the year 2004.
The Gross Domestic product has reached $ 676.5 billions (Current US) in the year 2004.
The growth rate of GDP is estimated at a rate of 4.4 percent in the year 2004 in comparison to 1.4 percent in the previous years. The average annual growth rate of GDP is predicted to be 3 percent for the year 2004-08.
The annual average growth rate of GDP percapita is calculated at 4.8 percent in the year 2006.
