Canadian Economic and Housing Policy 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
Despite NAFTA-related uncertainty, investment
rebounded in 2018 and trade has returned to
making a positive contribution to economy-wide
growth
15.9%
Finance, Insurance,
& Real Estate
16.2%
Other
3.1%
Natural
Resources
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY
(Q3 2018)
6.5%
Transportation 1.9%
& Warehousing
Professional, 3.8%
Scientific,
& Technical
Public
Services Administration
Top 5 Trading Partners
17.5%
Wholesale &
Retail Trade
15.9%
Manufacturing
6.3%
Mining and Oil
& Gas Extraction
7.0%
Construction
Contributions to Mexican GDP Growth
5
y/y % change
4
3
2
1
0
-1
-2
Other
Net Exports
Inventories
GFCF
Government
Consumption
-3
16
Real GDP
17
Sources: Scotiabank Economics, Haver Analytics.
18
Others
21%
Germany 3%
Japan 3%
Canada
4%
United
States
59%
China
10%
Scotiabank®
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