Canadian Housing Market: Engineering a Soft Landing
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
16.0%
Finance, Insurance,
& Real Estate
16.2%
Other
3.2%
Natural
Resources
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY
(Q2 2019)
6.5%
Transportation 2.0%
& Warehousing
Professional, 3.8%
Scientific,
& Technical
Public
Services Administration
Top 5 Trading Partners
17.7%
Wholesale &
Retail Trade
15.9%
Manufacturing
6.1%
Mining and Oil
& Gas Extraction
6.8%
Construction
Contributions to Mexican GDP Growth
5
y/y % change
4
3
2
1
0
-2
-3
-4
1 2 3 4 5
-1
-5
16
17
18
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
Other*
Net Exports
Inventories
Investment
Government
Consumption
Real GDP
19
Germany 3%
Japan 3%
Canada
4%
China
11%
Others
20%
United
States
59%
Scotiabank.
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