MEXICO
GDP: $1.845 trillion (2013 estimate)
GDP per capita: $15,600 (2013 estimate)
Life expectancy at birth: 75.43 years
Poverty rate: 52.3% of individuals are below the poverty line
Literacy rate of total population: 93.5% (individuals 15 years old or older can read and write)
Unemployment rate: 4.9% (2013 estimate)
Inflation rate for consumer prices: 4% (2013 estimate)
1. Natural Resources
The environment of Mexico is very interesting. In terms of climate, it varies from tropical conditions to barren deserts. Due to the wide variety of climate conditions, the amount of rainfall will fluctuate depending on location. About 13% of land in Mexico is arable land, and an additional 1.36% of land in Mexico holds permanent crops. The crop known as ‘Corn’ is thought to have originated in Mexico. On Mexican soil, water takes up 20,430 square kilometers. In addition to the rivers and bodies of water within Mexico’s borders, Mexico is largely surrounded by the Caribbean Sea and North Pacific Ocean. Significant mineral deposits don’t frequently exist in Mexico.
2. Labor
In Mexico, the labor force was estimated to include 51.48 million individuals in 2013. In terms of the Mexican educational system, 5.1% of the GDP was allocated towards educational expenditures in 2009. The expectancy of school life is approximately 13 years, as estimated in 2011.
3. Capital
Mexican industries include the following categories of food and beverages, tobacco, chemicals, iron & steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, and tourism. The Mexican economy is growing more and more dependent on the private sector. In recent years, the government of Mexico has increased their level of seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Unfortunately, the GDP growth has slowed to a rate of just more than 1% in 2013.
