Economy: Regarded among ‘major emerging economies’, 2nd largest GDP in Latin America, largest trading nation in Latin America, and 11th (PPP) in the world; the only Latin country member of both NAFTA and OECD; global crisis affected it severely in 2009; a free market economy, though vital sector of oil & gas is state monopoly (a secondary legislation of Energy Reform Bill has been passed in Dec 2014 to open the sector to private companies); industry and infrastructure well developed; oil sector contributes about 40% to the revenue, tourism and remittances constitute second and third Forex earners.
GDP US$ 1,282.5 billion (2014);
GDP (PPP) US$ 2,076.5 billion (2014);
GDP Per Capita (PPP): US$ 16,773 (2014 estimate);
Growth Rate: 2.1% (2014);
GDP Break-up (2013): Agriculture 3.6%; Industry 36.6%; Services 59.8%
Inflation 4.08% (2014);
FDI: US$ 22.6 bn (2014);
Remittances: $23.64 bn (2014) ;
Unemployment: 4.8% (2014 estimate).
Major Minerals: (World Ranking in Brackets): Silver (1), Petroleum (7), Zinc (7), Copper (10), Gold (10), Iron (15).
Major Crops: Maize, Beans, Coffee, Vegetables & Fruits, Wheat, Sugarcane.
Foreign Trade: Located strategically, straddling both Atlantic and Pacific, and the only country sharing the USA southern border; Mexico is the largest trading country in Latin America, and the third largest supplier to the US market after China and Canada.
Total Trade: Total trade in 2014 was $797.7 bn. Export $397.6b and import $397.9 bn. Major trade items: Exports: petroleum, automobiles & components, electrical and engineering goods, minerals, precious & semi-precious stones; Imports: electrical & engineering goods, automobiles & components, plastics, chemicals, and iron & steel.
Major trading partners: USA (64.48%), China (9.06%), Canada (2.60%), Japan (2.53%), and Germany (2.16%). (Based on 2014 trade figures)
Trade with India: Total bilateral trade $6.45 bn in 2014. Exports from India $3.73 bn and imports to India $2.72 bn. Major trade items: Exports from India - chemicals, electrical machinery & equipment, pharmaceuticals, textiles & garments, diamonds, engineering goods, gems & jewellery, iron and steel, auto parts and agriculture produce; Imports from Mexico - crude oil (to RIL, Essar and IOC), mineral fuel, fertilizers, iron & steel (from Arcelor Mittal, Mexico), electrical goods, machinery and chemicals.
Indian Community: Small, just about 2,500, about half in Mexico City and the rest in other cities like Guadalajara, Monterrey, Cuernavaca, Queretaro; mainly professionals, businesspersons, scientists, researchers and students.
Visa: Needed for Indian Nationals, except diplomatic and official passport-holders have visa-exempt entry. Indian passport holders with valid US visas (except transit visas) do not need Mexican visas for short visits upto six months.
Embassy: Address: Musset 325, Colonia Polanco, Delegacion Miguel Hidalgo, C.P.11550, Mexico D.F., Tel: 00-52-55-5531-1050/1002; Fax: 00-52-55-5254-2349, Website: www.indembassy.org
(Embassy of India in Mexico City is the only Govt. of India office in Mexico and Belize).
The Ambassador in Mexico is also concurrently accredited as India’s High Commissioner to Belize, with an Honorary Consulate General in Belize. There are three Honorary Consulates of India in Mexico in Guadalajara & Cancún.
Website : www.indembassy.org
Ambassador : The Ambassador in Mexico is also concurrently accredited as India’s High Commissioner to Belize, with an Honorary Consulate General in Belize.