Country profile
Mexico
A manufacturing hub for machinery, vehicles and electronics, with about 82% of its exports going to the United States.
Updated 10 November 2026. Sources at the bottom of the page.
- Capital
- Mexico City
- Population
- 130.9 million (2025)
- Currency
- Mexican peso (MXN)
- GDP, 2026
- US$2.18 trillion
- Exports, 2025
- US$665.9 billion
- Exchange rate
- 1 USD = 18.59 MXN (9 Nov 2026)
Economy
IMF World Economic Outlook, October 2026. 2026 and 2027 are IMF projections.
1.5%Real GDP growth, 2026
1.8%Real GDP growth, 2027
3.8%Inflation, 2026
2.8%Unemployment, 2026
62.1% of GDPGovernment debt, 2026
-0.3% of GDPCurrent account, 2026
Trade
Top export markets
Share of the country’s exports, 2025
- United States (81.9%)
- Canada (3.3%)
- China (1.5%)
- Germany (1.2%)
- South Korea (0.8%)
Main exports
Product groups, share of exports
- Machinery, including computers (24.6%)
- Vehicles (22.8%)
- Electrical machinery and equipment (17.0%)
- Optical, technical and medical apparatus (4.9%)
- Mineral fuels, including oil (3.1%)
Main trade agreements
- USMCA (United States, Canada)
- EU–Mexico Global Agreement
- CPTPP (Pacific Rim countries and the UK)
- Pacific Alliance (Chile, Colombia, Peru)
- Agreement with Japan and other bilateral agreements
Trade policy to watch
- USMCA: in force until 2036, and reviewed every year since July 2026.
- Higher tariffs on non-FTA imports: since January 2026, Mexico applies tariffs of 10% to 50% on 1,463 product lines from countries without a trade agreement with Mexico, including China, Korea and India. Vehicles and auto parts face the highest rates.
- US metals tariffs: US Section 232 tariffs apply to steel, aluminum and copper products from Mexico.
Energy
Oil and natural gas are Mexico's main energy sources. Mexico imports most of the natural gas it uses, mainly by pipeline from the United States, and much of its electricity is generated from that gas.
What it means for your supply chain
- Mexican production that relies on Asian components may cost more after the 2026 tariff increase; ask suppliers where their inputs come from.
- About 82% of exports go to the US, so US tariffs and USMCA rules of origin shape Mexican suppliers’ costs.
- Industrial energy depends heavily on pipeline gas from the US.
Sources
- IMF, World Economic Outlook, October 2026: GDP, growth, inflation, unemployment, government debt, current account (2026 and 2027 are projections).
- INEGI, Encuesta Intercensal 2025: population.
- World’s Top Exports, 2025: export markets and main exports.
- Bank of Canada, daily exchange rates, 9 November 2026 (cross rates calculated from CAD rates).
- Energy Institute, Statistical Review of World Energy 2026: energy profile.
- Clark Hill, Mexico approves significant tariff increases on imports from non-FTA countries (December 2025).
- White & Case, United States modifies steel, aluminum and copper Section 232 tariffs (April 2026).
- White & Case, USMCA 2026 Joint Review (July 2026).
Figures are the latest published at the time of the update and may since have been revised. This page is for general information, not investment or legal advice.