Canadian Housing Market Financial Analysis
Mexico
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
Despite NAFTA-related concerns, investment
rebounded in 2018, which points to the
resilience of the economy to trade uncertainty
Contributions to Mexican GDP Growth
16.0%
Finance, Insurance,
& Real Estate
16.3%
Other
3.2%
Natural
Resources
6.5%
Transportation
& Warehousing
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY
(Q4 2018)
1.9%
Professional, 3.8%
Scientific,
& Technical
Public
Services Administration
Top 5 Trading Partners
17.7%
Wholesale &
Retail Trade
15.8%
Manufacturing
6.1%
Mining and Oil
& Gas Extraction
6.8%
Construction
5
y/y % change
4
3
2
1
0
-1
-2
-3
Other*
Net Exports
Inventories
Investment
Government
Japan 3%
Canada
4%
Others
20%
Germany 3%
United
States
59%
-4
Consumption
-5
Real GDP
China
11%
16
*Statistical discrepancy, subject to revision.
17
18
Sources: Scotiabank Economics, Haver Analytics.
Scotiabank® 42View entire presentation