People from around the world may see a duality in Mexico. It figures as one of the best countries for setting up a business, but there are some doubts about their economy. What kind of economy does Mexico have? There are myths that say this is a hopeless country for businesses because it does not have economic stability. If you really want to know this, we invite you to keep reading.
World’s Largest Economies
Mexico figures among the top 15 largest economies of the world and takes the second position among Latin American countries. Its free market has enough stability to keep growing and attracting investors.
The economy in Mexico is oriented toward industry, agriculture, livestock, and raw materials. Due to this and other reasons, it’s also among the countries receiving the most foreign direct investment. Let’s talk about the strengths of this country.
- Raw materials
Mexico is a powerful source of raw materials that are exported to the whole globe. This is the kind of country that has everything, from precious metals and minerals to crude oil, plastics, and more elements, which are being sent to foreign countries.
- Agriculture and livestock
This country exports a wide variety of fruits and vegetables to the US and other countries. Among the major exports are avocados, strawberries, tomatoes, bananas, limes, cucumbers, melons, and mangoes.
The industry is an essential part of Mexico’s economy; a foundation that makes the country strive for better results each day. The industry exports all types of products, but most vehicles, electrical components, medical devices, plastic articles, and computers.
- Free-trade agreements
Mexico is the country with more free-trade agreements that seek international cooperation. NAFTA is among them, and perhaps the most important one.
If the former was not enough, Mexico is also among the most visited countries for tourism. It has beaches, forests, mountains, national parks, and interesting cities.
As described, Mexico’s economy has everything to stay on the world’s largest economies list. Its elements show that foreign companies have nothing to fear because every need can be met here.
If you want to know more about Mexico’s economy, contact Tijuana EDC. They’ll advise you and help you make a wise decision regarding your foreign investment in Mexico.