Colombian Economy & Banking Sector Analysis
Mexican Economy
Diverse economy with a strong balance sheet
•
The Mexican economy reflects a solid mix of
commodities, goods production, and services
Trade remains dominated by the U.S., but
Mexico's diversification agenda is underpinned
by 13 free-trade agreements with 47 countries
that account for 40% of global GDP and
include all G7 countries
15.9%
Finance, Insurance,
& Real Estate
16.8%
Other
3.3%
Natural
Resources
6.5%
Transportation
& Warehousing
5.8%
Health & Education
MEXICAN GDP
BY INDUSTRY*
(Q4 2019)
2.0%
Professional,
Scientific,
& Technical
Services
3.9%
Public
Administration
17.5%
Wholesale &
Retail Trade
15.7%
Manufacturing
6.3%
Mining and Oil
& Gas Extraction
6.4%
Construction
* Q1-2020 real GDP growth -1.6% y/y. Industry GDP breakdown not yet available for Q1 2020.
Top 5 Trading Partners
Contributions to Mexican GDP Growth
5
y/y % change
4
3
2
1
0
-1
-2
-3
Other*
Inventories
-4
-5
Government
Real GDP
18
19
17
16
*Statistical discrepancy, subject to revision.
Sources: Scotiabank Economics, Haver Analytics.
Net Exports
Investment
Consumption
Others
20%
Germany 3%
Japan 3%
United
States
Canada
4%
59%
China
11%
66
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