Exchange Rate Home >> Country Info >> Mexico
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Introduction
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Background:
The site of advanced Amerindian civilizations, Mexico came under Spanish rule for three centuries before achieving independence early in the 19th century. A devaluation of the peso in late 1994 threw Mexico into economic turmoil, triggering the worst recession in over half a century. The nation had been making an impressive recovery until the global financial crisis hit in late 2008. Ongoing economic and social concerns include low real wages, underemployment for a large segment of the population, inequitable income distribution, and few advancement opportunities for the largely Amerindian population in the impoverished southern states. The elections held in 2000 marked the first time since the 1910 Mexican Revolution that an opposition candidate - Vicente FOX of the National Action Party (PAN) - defeated the party in government, the Institutional Revolutionary Party (PRI). He was succeeded in 2006 by another PAN candidate Felipe CALDERON.
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Geography
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Freshwater withdrawal (domestic/industrial/agricultural):
total: 78.22 cu km/yr (17%/5%/77%)
per capita: 731 cu m/yr (2000)
Total renewable water resources:
457.2 cu km (2000)
Land boundaries:
total: 4,353 km
border countries: Belize 250 km, Guatemala 962 km, US 3,141 km
Environment - international agreements:
party to: Biodiversity, Climate Change, Climate Change-Kyoto Protocol, Desertification, Endangered Species, Hazardous Wastes, Law of the Sea, Marine Dumping, Marine Life Conservation, Ozone Layer Protection, Ship Pollution, Wetlands, Whaling
signed, but not ratified: none of the selected agreements
Climate:
varies from tropical to desert
Map references:
North America
Geographic coordinates:
23 00 N, 102 00 W
Natural resources:
petroleum, silver, copper, gold, lead, zinc, natural gas, timber
Elevation extremes:
lowest point: Laguna Salada -10 m
highest point: Volcan Pico de Orizaba 5,700 m
Terrain:
high, rugged mountains; low coastal plains; high plateaus; desert
Geography - note:
strategic location on southern border of US; corn (maize), one of the world's major grain crops, is thought to have originated in Mexico
Area:
total: 1,972,550 sq km
land: 1,923,040 sq km
water: 49,510 sq km
Location:
Middle America, bordering the Caribbean Sea and the Gulf of Mexico, between Belize and the US and bordering the North Pacific Ocean, between Guatemala and the US
Coastline:
9,330 km
Area - comparative:
slightly less than three times the size of Texas
Irrigated land:
63,200 sq km (2003)
Environment - current issues:
scarcity of hazardous waste disposal facilities; rural to urban migration; natural fresh water resources scarce and polluted in north, inaccessible and poor quality in center and extreme southeast; raw sewage and industrial effluents polluting rivers in urban areas; deforestation; widespread erosion; desertification; deteriorating agricultural lands; serious air and water pollution in the national capital and urban centers along US-Mexico border; land subsidence in Valley of Mexico caused by groundwater depletion
note: the government considers the lack of clean water and deforestation national security issues
Maritime claims:
territorial sea: 12 nm
contiguous zone: 24 nm
exclusive economic zone: 200 nm
continental shelf: 200 nm or to the edge of the continental margin
Natural hazards:
tsunamis along the Pacific coast, volcanoes and destructive earthquakes in the center and south, and hurricanes on the Pacific, Gulf of Mexico, and Caribbean coasts
Land use:
arable land: 12.66%
permanent crops: 1.28%
other: 86.06% (2005)
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People
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Total fertility rate:
2.37 children born/woman (2008 est.)
Sex ratio:
at birth: 1.05 male(s)/female
under 15 years: 1.04 male(s)/female
15-64 years: 0.94 male(s)/female
65 years and over: 0.82 male(s)/female
total population: 0.96 male(s)/female (2008 est.)
HIV/AIDS - adult prevalence rate:
0.3% (2003 est.)
HIV/AIDS - people living with HIV/AIDS:
160,000 (2003 est.)
Life expectancy at birth:
total population: 75.84 years
male: 73.05 years
female: 78.78 years (2008 est.)
Major infectious diseases:
degree of risk: intermediate
food or waterborne diseases: bacterial diarrhea, hepatitis A, and typhoid fever
vectorborne disease: dengue fever
water contact disease: leptospirosis (2008)
Literacy:
definition: age 15 and over can read and write
total population: 91%
male: 92.4%
female: 89.6% (2004 est.)
Net migration rate:
-3.84 migrant(s)/1,000 population (2008 est.)
Ethnic groups:
mestizo (Amerindian-Spanish) 60%, Amerindian or predominantly Amerindian 30%, white 9%, other 1%
Median age:
total: 26 years
male: 24.9 years
female: 27 years (2008 est.)
Population:
109,955,400 (July 2008 est.)
Education expenditures:
5.5% of GDP (2005)
Population growth rate:
1.142% (2008 est.)
Languages:
Spanish only 92.7%, Spanish and indigenous languages 5.7%, indigenous only 0.8%, unspecified 0.8%; note - indigenous languages include various Mayan, Nahuatl, and other regional languages (2005)
Death rate:
4.78 deaths/1,000 population (2008 est.)
Infant mortality rate:
total: 19.01 deaths/1,000 live births
male: 20.91 deaths/1,000 live births
female: 17.02 deaths/1,000 live births (2008 est.)
HIV/AIDS - deaths:
5,000 (2003 est.)
School life expectancy (primary to tertiary education):
total: 13 years
male: 14 years
female: 13 years (2006)
Age structure:
0-14 years: 29.6% (male 16,619,995/female 15,936,154)
15-64 years: 64.3% (male 34,179,440/female 36,530,154)
65 years and over: 6.1% (male 3,023,185/female 3,666,472) (2008 est.)
Birth rate:
20.04 births/1,000 population (2008 est.)
Religions:
Roman Catholic 76.5%, Protestant 6.3% (Pentecostal 1.4%, Jehovah's Witnesses 1.1%, other 3.8%), other 0.3%, unspecified 13.8%, none 3.1% (2000 census)
Nationality:
noun: Mexican(s)
adjective: Mexican
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Government
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Diplomatic representation from the US:
chief of mission: Ambassador Antonio O. GARZA, Jr.
embassy: Paseo de la Reforma 305, Colonia Cuauhtemoc, 06500 Mexico, Distrito Federal
mailing address: P. O. Box 9000, Brownsville, TX 78520-9000
telephone: [52] (55) 5080-2000
FAX: [52] (55) 5511-9980
consulate(s) general: Ciudad Juarez, Guadalajara, Monterrey, Tijuana
consulate(s): Hermosillo, Matamoros, Merida, Nogales, Nuevo Laredo
National holiday:
Independence Day, 16 September (1810)
Suffrage:
18 years of age; universal and compulsory (but not enforced)
Government type:
federal republic
Political pressure groups and leaders:
Broad Progressive Front or FAP; Businessmen's Coordinating Council or CCE; Confederation of Employers of the Mexican Republic or COPARMEX; Confederation of Industrial Chambers or CONCAMIN; Confederation of Mexican Workers or CTM; Confederation of National Chambers of Commerce or CONCANACO; Coordinator for Foreign Trade Business Organizations or COECE; Federation of Unions Providing Goods and Services or FESEBES; National Chamber of Transformation Industries or CANACINTRA; National Peasant Confederation or CNC; National Small Business Chamber or CANACOPE; National Syndicate of Education Workers or SNTE; National Union of Workers or UNT; Popular Assembly of the People of Oaxaca or APPO; Roman Catholic Church
Diplomatic representation in the US:
chief of mission: Ambassador Arturo SARUKHAN Casamitjana
chancery: 1911 Pennsylvania Avenue NW, Washington, DC 20006
telephone: [1] (202) 728-1600
FAX: [1] (202) 728-1698
consulate(s) general: Atlanta, Austin, Boston, Chicago, Dallas, Denver, El Paso, Houston, Laredo (Texas), Los Angeles, Miami, New Orleans, New York, Nogales (Arizona), Omaha, Orlando, Phoenix, Sacramento, San Antonio, San Diego, San Francisco, San Jose, San Juan (Puerto Rico)
consulate(s): Albuquerque, Brownsville (Texas), Calexico (California), Del Rio (Texas), Detroit, Douglas (Arizona), Eagle Pass (Texas), Fresno (California), Indianapolis (Indiana), Kansas City (Missouri), Laredo (Texas), Las Vegas, Little Rock (Arkansas), McAllen (Texas), New Orleans, Omaha, Orlando, Oxnard (California), Philadelphia, Portland (Oregon), Presidio (Texas), Raleigh, Saint Paul (Minnesota), Salt Lake City, San Bernardino, Santa Ana (California), Seattle, Tucson, Yuma (Arizona)
International organization participation:
APEC, BCIE, BIS, CAN (observer), Caricom (observer), CDB, CE (observer), CSN (observer), EBRD, FAO, G-20, G-3, G-15, G-24, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA, MIGA, NAFTA, NAM (observer), NEA, OAS, OECD, OPANAL, OPCW, PCA, RG, UN, UNASUR (observer), UNCTAD, UNESCO, UNHCR, UNIDO, Union Latina, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO
Legislative branch:
bicameral National Congress or Congreso de la Union consists of the Senate or Camara de Senadores (128 seats; 96 members are elected by popular vote to serve six-year terms, and 32 seats are allocated on the basis of each party's popular vote) and the Federal Chamber of Deputies or Camara Federal de Diputados (500 seats; 300 members are elected by popular vote; remaining 200 members are allocated on the basis of each party's popular vote; to serve three-year terms)
elections: Senate - last held 2 July 2006 for all of the seats (next to be held 1 July 2012); Chamber of Deputies - last held 2 July 2006 (next to be held 5 July 2009)
election results: Senate - percent of vote by party - NA; seats by party - PAN 52, PRI 33, PRD 26, PVEM 6, CD 5, PT 5, independent 1; Chamber of Deputies - percent of vote by party - NA; seats by party - PAN 207, PRD 127, PRI 106, PVEM 17, CD 17, PT 11, other 15
Legal system:
mixture of US constitutional theory and civil law system; judicial review of legislative acts; accepts compulsory ICJ jurisdiction with reservations
Flag description:
three equal vertical bands of green (hoist side), white, and red; the coat of arms (an eagle with a snake in its beak perched on a cactus) is centered in the white band
Independence:
16 September 1810 (declared); 27 September 1821 (recognized by Spain)
Country name (Goverment):
conventional long form: United Mexican States
conventional short form: Mexico
local long form: Estados Unidos Mexicanos
local short form: Mexico
Political parties and leaders:
Convergence for Democracy or CD [Luis MALDONADO Venegas]; Institutional Revolutionary Party or PRI [Beatriz PAREDES]; Labor Party or PT [Alberto ANAYA Gutierrez]; Mexican Green Ecological Party or PVEM [Jorge Emilio GONZALEZ Martinez]; National Action Party (Partido Accion Nacional) or PAN [German MARTINEZ Cazares]; New Alliance Party (Partido Nueva Alianza) or PNA [Jorge Antonio KAHWAGI Macari]; Party of the Democratic Revolution (Partido de la Revolucion Democratica) or PRD [Leonel COTA Montano]; Social Democratic and Peasant Alternative Party (Partido Alternativa Socialdemocrata y Campesina) or Alternativa [Alberto BEGNE Guerra]
Capital:
name: Mexico (Distrito Federal)
geographic coordinates: 19 26 N, 99 08 W
time difference: UTC-6 (1 hour behind Washington, DC during Standard Time)
daylight saving time: +1hr, begins first Sunday in April; ends last Sunday in October
note: Mexico is divided into three time zones
Constitution:
5 February 1917
Executive branch:
chief of state: President Felipe de Jesus CALDERON Hinojosa (since 1 December 2006); note - the president is both the chief of state and head of government
head of government: President Felipe de Jesus CALDERON Hinojosa (since 1 December 2006)
cabinet: Cabinet appointed by the president; note - appointment of attorney general requires consent of the Senate
elections: president elected by popular vote for a single six-year term; election last held on 2 July 2006 (next to be held 1 July 2012)
election results: Felipe CALDERON elected president; percent of vote - Felipe CALDERON 35.89%, Andres Manuel LOPEZ OBRADOR 35.31%, Roberto MADRAZO 22.26%, other 6.54%
Administrative divisions:
31 states (estados, singular - estado) and 1 federal district* (distrito federal); Aguascalientes, Baja California, Baja California Sur, Campeche, Chiapas, Chihuahua, Coahuila de Zaragoza, Colima, Distrito Federal*, Durango, Guanajuato, Guerrero, Hidalgo, Jalisco, Mexico, Michoacan de Ocampo, Morelos, Nayarit, Nuevo Leon, Oaxaca, Puebla, Queretaro de Arteaga, Quintana Roo, San Luis Potosi, Sinaloa, Sonora, Tabasco, Tamaulipas, Tlaxcala, Veracruz-Llave, Yucatan, Zacatecas
Judicial branch:
Supreme Court of Justice or Suprema Corte de Justicia de la Nacion (justices or ministros are appointed by the president with consent of the Senate)
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Economy
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Exports - partners:
US 82.2%, Canada 2.4%, Germany 1.5% (2007)
Electricity - consumption:
202 billion kWh (2007 est.)
Central bank discount rate:
NA
Electricity - imports:
484.2 million kWh (2007 est.)
Current account balance:
-$13.45 billion (2008 est.)
Debt - external:
$181.2 billion (31 December 2008 est.)
Unemployment rate:
4.1% plus underemployment of perhaps 25% (October 2008)
Oil - exports:
2.204 million bbl/day (2005)
GDP - per capita (PPP):
$14,400 (2008 est.)
Investment (gross fixed):
22.9% of GDP (2008 est.)
Stock of domestic credit:
$349.1 billion (31 December 2007)
GDP (purchasing power parity):
$1.578 trillion (2008 est.)
GDP (official exchange rate):
$1.143 trillion (2008 est.)
Distribution of family income - Gini index:
47.9 (2006)
Exchange rates:
Mexican pesos (MXN) per US dollar - 11.016 (2008 est.), 10.8 (2007), 10.899 (2006), 10.898 (2005), 11.286 (2004)
GDP - real growth rate:
2% (2008 est.)
Stock of money:
$103.5 billion (31 December 2007)
Labor force:
45.5 million (2008 est.)
Imports - partners:
US 49.6%, China 10.5%, Japan 5.8%, South Korea 4.5% (2007)
Inflation rate (consumer prices):
6.2% (2008 est.)
GDP - composition by sector:
agriculture: 3.7%
industry: 34.1%
services: 62.2% (2008 est.)
Oil - imports:
385,400 bbl/day (2005)
Exports:
$294 billion f.o.b. (2008 est.)
Natural gas - consumption:
68.29 billion cu m (2007 est.)
Currency (code):
Mexican peso (MXN)
Economy - overview:
Mexico has a free market economy in the trillion dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is one-fourth that of the US; income distribution remains highly unequal. Trade with the US and Canada has nearly tripled since the implementation of NAFTA in 1994. Mexico has 12 free trade agreements with over 40 countries including, Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan, putting more than 90% of trade under free trade agreements. In 2007, during his first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass a pension and a fiscal reform. The administration continues to face many economic challenges including the need to upgrade infrastructure, modernize labor laws, and allow private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.
Natural gas - exports:
2.973 billion cu m (2007 est.)
Imports - commodities:
metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts
Industries:
food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
Electricity - exports:
1.278 billion kWh (2007 est.)
Population below poverty line:
13.8% using food-based definition of poverty; asset based poverty amounted to more than 40% (2006)
Commercial bank prime lending rate:
7.56% (31 December 2007)
Stock of quasi money:
$168.4 billion (31 December 2007)
Electricity - production:
243.3 billion kWh (2007 est.)
Imports:
$305.9 billion f.o.b. (2008 est.)
Oil - proved reserves:
11.65 billion bbl (1 January 2008 est.)
Labor force - by occupation:
agriculture: 15.1%
industry: 25.7%
services: 59% (2005)
Natural gas - proved reserves:
392.2 billion cu m (1 January 2008 est.)
Reserves of foreign exchange and gold:
$91.99 billion (31 December 2008 est.)
Oil - consumption:
2.119 million bbl/day (2007 est.)
Stock of direct foreign investment - abroad:
$43.01 billion (2008 est.)
Public debt:
20.3% of GDP (2008 est.)
Stock of direct foreign investment - at home:
$278.9 billion (2008 est.)
Market value of publicly traded shares:
$397.7 billion (31 December 2007)
Currency code:
MXN
Household income or consumption by percentage share:
lowest 10%: 1.2%
highest 10%: 37% (2006)
Exports - commodities:
manufactured goods, oil and oil products, silver, fruits, vegetables, coffee, cotton
Economic aid - recipient:
$189.4 million (2005)
Electricity - production by source:
fossil fuel: 78.7%
hydro: 14.2%
nuclear: 4.2%
other: 2.9% (2001)
Natural gas - imports:
11.69 billion cu m (2007 est.)
Natural gas - production:
55.98 billion cu m (2007 est.)
Budget:
revenues: $256.7 billion
expenditures: $256.8 billion (2008 est.)
Fiscal year:
calendar year
Oil - production:
3.501 million bbl/day (2007 est.)
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Communications
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Internet users:
22.812 million (2007)
Telephones - main lines in use:
19.754 million (2007)
Televisions:
25.6 million (1997)
Internet country code:
.mx
Radio broadcast stations:
AM 850, FM 545, shortwave 15 (2003)
Radios:
31 million (1997)
Telephones - mobile cellular:
68.254 million (2007)
Television broadcast stations:
236 (plus repeaters) (1997)
Telephone system:
general assessment: adequate telephone service for business and government, but the population is poorly served; mobile subscribers far outnumber fixed-line subscribers; domestic satellite system with 120 earth stations; extensive microwave radio relay network; considerable use of fiber-optic cable and coaxial cable
domestic: low telephone density with about 18 fixed lines per 100 persons; privatized in December 1990; despite the opening to competition in January 1997, Telmex remains dominant; legal challenges to Telmex's alleged anti-competitive behavior in the mobile and fixed-line markets culminated in a World Trade Organization ruling in 2004 against Mexico prompting some strengthening of the powers granted Mexico's telecom regulator; mobile cellular teledensity approaching 65 per 100 persons
international: country code - 52; Columbus-2 fiber-optic submarine cable with access to the US, Virgin Islands, Canary Islands, Spain, and Italy; the Americas Region Caribbean Ring System (ARCOS-1) and the MAYA-1 submarine cable system together provide access to Central America, parts of South America and the Caribbean, and the US; satellite earth stations - 120 (32 Intelsat, 2 Solidaridad (giving Mexico improved access to South America, Central America, and much of the US as well as enhancing domestic communications), 1 Panamsat, numerous Inmarsat mobile earth stations); linked to Central American Microwave System of trunk connections (2007)
Internet Service Providers (ISPs):
51 (2000)
Internet hosts:
10.653 million (2008)
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Transportation
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Waterways:
2,900 km (navigable rivers and coastal canals) (2008)
Pipelines:
gas 22,705 km; liquid petroleum gas 1,875 km; oil 8,688 km; oil/gas/water 228 km; refined products 6,520 km (2006)
Railways:
total: 17,665 km
standard gauge: 17,665 km 1.435-m gauge (2006)
Ports and terminals:
Altamira, Coatzacoalcos, Manzanillo, Morro Redondo, Salina Cruz, Tampico, Veracruz
Heliports:
1 (2007)
Merchant marine:
total: 55
by type: bulk carrier 2, cargo 7, chemical tanker 5, liquefied gas 4, passenger/cargo 11, petroleum tanker 23, roll on/roll off 3
foreign-owned: 4 (Denmark 2, Hong Kong 1, UAE 1)
registered in other countries: 20 (Brazil 1, Honduras 1, Liberia 2, Marshall Islands 4, Panama 2, Portugal 1, Spain 3, Venezuela 5, unknown 1) (2008)
Airports - with paved runways:
total: 231
over 3,047 m: 12
2,438 to 3,047 m: 29
1,524 to 2,437 m: 84
914 to 1,523 m: 77
under 914 m: 29 (2007)
Roadways:
total: 356,945 km
paved: 178,473 km (includes 6,279 km of expressways)
unpaved: 178,472 km (2006)
Airports - with unpaved runways:
total: 1,603
over 3,047 m: 1
1,524 to 2,437 m: 63
914 to 1,523 m: 408
under 914 m: 1,131 (2007)
Airports:
1,834 (2007)
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Military
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Military service age and obligation:
18 years of age for compulsory military service, conscript service obligation - 12 months; 16 years of age with consent for voluntary enlistment; conscripts serve only in the Army; Navy and Air Force service is all voluntary; women are eligible for voluntary military service (2007)
Manpower available for military service:
males age 16-49: 27,774,688
females age 16-49: 29,376,791 (2008 est.)
Manpower fit for military service:
males age 16-49: 22,188,284
females age 16-49: 24,884,614 (2008 est.)
Military branches:
Secretariat of National Defense (Secretaria de Defensa Nacional, Sedena): Army (Ejercito, includes Mexican Air Force (Fuerza Aerea Mexicana, FAM)); Secretariat of the Navy (Secretaria de Marina, Semar): Mexican Navy (Armada de Mexico, ARM, includes Naval Air Force (FAN) and naval infantry) (2008)
Manpower reaching militarily significant age annually:
male: 1,110,544
female: 1,073,223 (2008 est.)
Military expenditures:
0.5% of GDP (2006 est.)
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Transnational Issues
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Disputes - international:
abundant rainfall in recent years along much of the Mexico-US border region has ameliorated periodically strained water-sharing arrangements; the US has intensified security measures to monitor and control legal and illegal personnel, transport, and commodities across its border with Mexico; Mexico must deal with thousands of impoverished Guatemalans and other Central Americans who cross the porous border looking for work in Mexico and the United States
Refugees and internally displaced persons:
IDPs: 5,500-10,000 (government's quashing of Zapatista uprising in 1994 in eastern Chiapas Region) (2007)
Illicit drugs:
major drug-producing nation; cultivation of opium poppy in 2007 rose to 6,900 hectares yielding a potential production of 18 metric tons of pure heroin, or 50 metric tons of "black tar" heroin, the dominant form of Mexican heroin in the western United States; marijuana cultivation increased to 8,900 hectares in 2007 and yielded a potential production of 15,800 metric tons; government conducts the largest independent illicit-crop eradication program in the world; continues as the primary transshipment country for US-bound cocaine from South America, with an estimated 90% of annual cocaine movements toward the US stopping in Mexico; major drug syndicates control the majority of drug trafficking throughout the country; producer and distributor of ecstasy; significant money-laundering center; major supplier of heroin and largest foreign supplier of marijuana and methamphetamine to the US market (2007)
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1. Frank (09/27/10 21:56:24 US EST)
If you are planning a trip to Mexico and renting a vehicle, make sure the price on the rental agreement coincides with the price quoted on your reservation. Make sure they use the correct exchange rate!!!! The vendors play games with the exchange rates used in converting to US dollars. They use a higher peso to dollars so that when you get your credit card bill it becomes higher then what you expected to pay. You won't know this until you receive the credit card statement. Recently I rented a car and the agreement said the peso was 15.99mn to $1.00. When I received my credit card statement the peso was 12.35mn to $1.00. This amounted to a 30% increase in the charge I was originally quoted.make sure the price on the rental agreement coincides with the price quoted on your reservation