Experts and opinion leaders are trying to explain how Mexico’s economy is standing and increasing with current situations affecting some industries and other economies in the region. According to a Forbes article, there are various circumstances that help or maintain the economy in Mexico, which ultimately position Mexico as one of the leading economies in Latin America.
Global manufacturing companies have favored Mexico, as they see the country’s geographical location (between two continents and two oceans) as a strategic and beneficial key point, in addition to Mexico’s free-trade agreements with 45 different countries. These are very attractive assets for the manufacturing industry, for example the automobile industry, which has positioned Mexico as the world’s fourth-largest car exporter.
Nonetheless, the success of a leader in the car manufacturing industry doesn’t permeate all over the country; there is a wide gap on those who benefit from the increasing economy, to those who live isolated and remain impoverished.
Another interesting and astounding fact is that these factories aren’t able to provide enough jobs for the 55 million Mexicans under the age of 25, and it’s the small-scale business that provide enough jobs to satisfy this demand. As a matter of fact, it is these businesses that could raise the country’s productivity with a relatively small investment.
According to an article from CNN Money, “The Mexican economy isn’t surging, but it’s surviving — and that’s a success in a year of tough economic times for the region. Low commodity prices, plunging currencies and a stock market sell off across emerging markets have hit Latin America particularly hard this year. But Mexico’s economy is growing, unemployment is falling and its debt was upgraded earlier this year.”
Mexico has a longstanding trade partnership with the U.S., which normally affects in a positive or negative way, depending on how’s their economy; and as the U.S. economy continues to recover from the recession, that also brings benefit to the Mexican economy.
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