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MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in June 2024.
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GDP | USD1414.18bn (World ranking 14, World Bank 2022) |
Population | 127.05mn (World ranking 10, World Bank 2022) |
Form of state | Federal Republic |
Head of government | Andrés Manuel Lopez Obrador (President) - Claudia Sheinbaum Pardo (President-elect) |
Next elections |
2030, General Election |
Strengths & Weaknesses
![Strenghts](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Mexico/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-0-par/wrapper_copy_copy/wrapper/image.img.82.3360.png/1720687529774/plus.png)
- Second-largest market in Latin America, benefitting from the positive cycle in the US and among the most open in the world.
- Solid fiscal profile, ample domestic financing and easy access to global capital markets which allow the government to cover financing requirements easily.
- Durable political framework with stable handovers of power and legacy of pro-business reforms by previous administrations.
![Weaknesses](/content/onemarketing/aztrade/allianz-trade_com/en_global/economic-research/country-reports/Mexico/_jcr_content/root/parsys/wrapper/wrapper/multi_column_grid_co/grid-1-par/wrapper_copy/wrapper/image.img.82.3360.png/1720687542983/minus.png)
- Dependence on the US, which buys around 31% of Mexican GDP, leaves it vulnerable to shifts in trade and industrial policy.
- Fiscal position highly sensitive to oil prices and large contingent liabilities potentially stemming from the sector, which contributes to around 30% of government revenue.
- Skewed income distribution and elevated security risk.
Economic Overview
Trade structure by destination/origin
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
United States
78.3%
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1 |
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Canada
2.7%
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2 |
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China
1.9%
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3 |
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Germany
1.4%
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4 |
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Taiwan
1.3%
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5 |
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Trade structure by product
(% of total, 2022)
Exports | Rank | Imports |
---|---|---|
Road vehicles
21.3%
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1 |
9.5%
Electrical machinery, apparatus and appliances, n.e.s.
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Electrical machinery, apparatus and appliances, n.e.s.
10.2%
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2 |
7.6%
Road vehicles
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Office machines and automatic data processing machines
8.0%
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3 |
7.1%
Petroleum, petroleum products and related materials
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Petroleum, petroleum products and related materials
6.5%
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4 |
7.0%
Telecommunication and sound recording apparatus
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Telecommunication and sound recording apparatus
5.9%
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5 |
5.5%
Other industrial machinery and parts
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Collection Complexity
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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