B. Pre-reading exercises

15. Mexico

Nominal GDP: $1.15 trillion 

GDP (PPP): $2.45 trillion

Mexico, the second largest economy in Latin America is the fifteenth largest economy in the world with a GDP (nominal) of $1.15 trillion while its GDP in terms of PPP is $2.45 trillion. The same is expected to touch $1.58 trillion and $3.26 trillion respectively by 2023. Back in 1980, Mexico was the tenth largest economy with a nominal GDP of $228.6 billion. The economy expanded by 2.9% and 2% during 2016 and 2017. Over the next two years, IMF projects a growth of 2.3% and 2.7% respectively. The share of agriculture in Mexican economy has remained under 4% over the last two decades while its industry and services contribute around 33% and 63% to its output. Automotive, oil and electronics are among the developed industries while financial services and tourism are prominent contributors within services.