Canadian Banking and Mortgage Portfolio Overview
Mexican Economy
Diverse economy with a strong balance sheet
•
The Mexican economy reflects a solid mix of
commodities, goods production, and services
Trade remains dominated by the U.S., but
Mexico's diversification agenda is underpinned
by 13 free-trade agreements with 47 countries
that account for 40% of global GDP and
include all G7 countries
15.8%
Finance, Insurance,
& Real Estate
16.4%
Other
3.3%
Natural
Resources
6.6%
Transportation
& Warehousing
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY
(Q3 2019)
17.5%
Wholesale &
Retail Trade
16.1%
Manufacturing
6.2%
Mining and Oil
& Gas Extraction
6.5%
5
y/y % change
4
3
2
-1
-2
-3
-4
10T2 3 4 5
-5
16
Contributions to Mexican GDP Growth
17
Net Exports
Investment
Consumption
Other*
Inventories
Government
Real GDP
18
19
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
2.0%
Professional,
Scientific,
& Technical
Services
3.8%
Public
Administration
Top 5 Trading Partners
Others
20%
Germany 3%
Japan 3%
United
States
Canada
4%
59%
China
11%
Construction
65
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