Economic Outlook and Trade Analysis

Millions of inhabitants POPULATION GROWTH IN THE LAST 20 YEARS - USA: 20% (at an annual rate of 0.9%) - México: 39% (at an annual rate of 1.7%) - California: 31% (at an annual rate of 1.4%) - BC: 57% (at an annual rate of 2.3%) 350 300 250 266 200 150 319 91 100 50 EUA 1995 2015 127 México 4 Scotia Wealth Management™ Millions of inhabitants 45 40 40 35 30 30 25 39 20 20 15 10 10 31% of the population is mexican descent (12 million people) 5 3 California Baja California 1995 2015 Source: Prepared by SWM using data from INEGI and the US Census Bureau, 2015.

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