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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.
GDP | USD 1788.9bn (World ranking 12, World Bank 2023) |
Population | 128.5mn (World ranking 10, World Bank 2023) |
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Strengths & Weaknesses
- 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.
- 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, 2023)
Exports | Rank | Imports | ||
United States 79.6% | 1 | United States 42.8% | ||
Canada 3.0% | 2 | China 19.1% | ||
China 1.5% | 3 | Germany 3.5% | ||
Germany 1.5% | 4 | Japan 3.4% | ||
China, Taiwan Province of 0.9% | 5 | Korea, Republic of 3.3% |
Trade Structure by product
(% of total, annual 2023)
Exports | Rank | Imports |
Road vehicles 25.7% |
1 | 14.0% Electrical machinery, apparatus and appliances, n.e.s. |
Electrical machinery, apparatus and appliances, n.e.s. 11.8% |
2 | 9.6% Road vehicles |
Office machines and automatic data processing machines 5.8% |
3 | 5.9% Other industrial machinery and parts |
Petroleum, petroleum products and related materials 5.4% |
4 | 5.3% Petroleum, petroleum products and related materials |
Telecommunication and sound recording apparatus 5.2% |
5 | 4.2% Office machines and automatic data processing machines |
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.
Contacts
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Read our latest reports
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Americas
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Europe
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Asia Pacific
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Middle East
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Africa