Economic Forecasts and Performance Review
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
Contributions to Mexican GDP Growth
5
y/y % change
4
16.0%
Finance, Insurance,
& Real Estate
16.3%
Other
3.2%
Natural
Resources
6.6%
Transportation
& Warehousing
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY
(Q2 2019)
1.9%
Professional,
Scientific,
& Technical
Services
3.8%
Public
Administration
Top 5 Trading Partners
17.7%
Wholesale &
Retail Trade
16.0%
Manufacturing
6.0%
Mining and Oil
& Gas Extraction
6.7%
Construction
3 27
1
-1
-2
-3
0 1 2 3
Others
20%
United
States
Other*
Net Exports
Inventories
Investment
Germany 3%
Japan 3%
Canada
4%
China
11%
-4
-5
45
Government
Consumption
Real GDP
16
17
18
19
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
59%
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