Mexico: Economy and Trade

Mexico has one of the largest economies in Latin America and is classified as an upper-middle-income country with a highly diversified industrial base, spanning automotive and aerospace manufacturing, electronics, agriculture, and a substantial services sector including tourism. The Mexican Peso is the national currency, and the country is a significant global exporter of manufactured goods, benefiting from its proximity to the United States and integration into North American supply chains.

Mexico's trade relationships are anchored by the United States-Mexico-Canada Agreement (USMCA), which succeeded NAFTA and governs the bulk of its trade with its two largest partners. The country also maintains free trade agreements with dozens of other nations and is a member of the World Trade Organization and the Organisation for Economic Co-operation and Development. Remittances from Mexican citizens abroad, along with oil exports through the state oil company Pemex, remain important components of the national economy alongside its manufacturing and export sectors.