Mexico GDP
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In fiscal 2008, purchasing power parity of Mexico GDP was estimated to be $1.578 trillion. GDP of Mexico in 2008, as per official exchange rate, was $1.143 trillion. There was 2 percent real growth rate in Mexico GDP of 2008. Per capita (PPP) GDP of Mexico as was estimated in 2008 to be $14,400.
Different sectors of Mexico economy have made various amounts of contribution to Mexico gross domestic product. In fiscal 2008, agricultural sector had contributed 3.7%, whereas it was 34.1% for industrial sector of Mexican economy. Service sector comprised 62.2% Mexico gross domestic product in 2008. In Mexico, GDP per head has been calculated to be 8,315 US$. 25.7% is regional GDP of Mexico as has been calculated in fiscal year 2008.
Mexico economy has a free market economy. Economic structure of Mexico is a combination of modern and outdated industry and agriculture, which is subjugated by private sector. There has been expansion in economic sector in recent times and development has been made in electricity generation, natural gas distribution, seaports, railroads, airports and telecommunications. Per capita income of Mexican GDP has been shown to be one-fourth of that of US in 2008.
Mexico GDP makes economy of this country stand 10th to 12th largest in world. In order to contribute to economy of nation, government has taken up challenges to upgrade infrastructure and tax system and labor laws. It has tried to arrest decline of inequality in income.
Exports and import sectors have largely developed and added significantly to Mexico GDP. Forbes Global 2000 includes name of 16 companies of Mexico in list of world’s largest companies in 2008. Congress of Union accepted important tax, pension and judicial reforms in Mexico while there have been various reforms in oil industry, which is a debatable issue. Free trade arguments have been enacted with 44 countries by Mexico.
Administration of Mexico faces many economic challenges, which reflects in Mexico GDP. It faces challenges in need of developing infrastructure, update labor laws. As a solution it has given consent to private investment in energy sector. Currency policy and monetary system contribute to Mexico GDP, thereby influencing economy of Mexico to a great extent.
