Business Directory Mexico
Mexico is a federal republic in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Covering almost two million square kilometers. Mexico is the sixth largest country in the Americas by total area and the 13th largest independent nation in the world. With an estimated population of over 120 million, it is the eleventh most populous country and the most populous Spanish-speaking country in the world while being the second most populous country in Latin America. Mexico is a federation comprising 31 states and a federal district that is also its capital and most populous city. Other metropolises include Guadalajara, Monterrey, Puebla, Toluca, Tijuana and León.
Mexico has the 15th largest nominal GDP and the 11th largest by purchasing power parity. GDP annual average growth for the period of 1995–2002 was 5.1%. Mexico's Gross Domestic Product (GDP) in purchasing power parity (PPP) was estimated at US $2.2602 trillion in 2015, and $1.3673 trillion in nominal exchange rates. Mexico's GDP in PPP per capita was US $18,714.05. The World Bank reported in 2009 that the country's Gross National Income in market exchange rates was the second highest in Latin America, after Brazil at US $1,830.392 billion, which lead to the highest income per capita in the region at $14,400. Mexico is now firmly established as an upper middle-income country. After the slowdown of 2001 the country has recovered and has grown 4.2, 3.0 and 4.8 percent in 2004, 2005 and 2006, even though it is considered to be well below Mexico's potential growth. Furthermore, after the 2008–2009 recession, the economy grew an average of 3.32 percent per year from 2010 to 2014.
From the late 1990s onwards, the majority of the population has been part of the growing middle class. But from 2004 to 2008 the portion of the population who received less than half of the median income has risen from 17% to 21% and the absolute levels of poverty rose from 2006 to 2010, with a rise in persons living in extreme or moderate poverty rising from 35 to 46% (52 million persons). This is also reflected by the fact that infant mortality in Mexico is three times higher than the average among OECD nations, and the literacy levels are in the median range of OECD nations. Nevertheless, according to Goldman Sachs, by 2050 Mexico will have the 5th largest economy in the world.
Among the OECD countries, Mexico has the second highest degree of economic disparity between the extremely poor and extremely rich, after Chile – although it has been falling over the last decade, being only one of few countries in which this is the case. The bottom ten percent in the income hierarchy disposes of 1.36% of the country's resources, whereas the upper ten percent dispose of almost 36%. OECD also notes that Mexico's budgeted expenses for poverty alleviation and social development is only about a third of the OECD average – both in absolute and relative numbers.
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