Mexico benefits from a strategic location on the United States southern border, and as the main link connecting North and South America. The proximity of the most powerful economy in the world has a great impact on Mexican economic development.

The Mexican economy is mainly based on domestic production. The country ranks among the world's largest producers of coffee, sugar, corn and oranges, as well as many minerals, including silver, fluorite, zinc and mercury. Mexico is also the world's fifth largest producer of petroleum. Agriculture accounts for 4% of GDP, industry 35% and the service sector contributes to around 60% of GDP, mostly thanks to construction services and real estate investments. For more economic data, visit the website of the Statistical Office.

Mexico is the largest international trading economy in Latin America and is the country with the greatest number of free trade agreements. Foreign Trade accounts for nearly 60% of Mexican GDP. The country imports electronic and machinery products, chemical, rubber and plastic, while its main exports are oil, televisions, motor vehicles and transmission apparatus for radio-telephony. 80% of the country’s trade is conducted with the United States. For more information about trade, consult Foreign Trade Statistics on the website of the Ministry of Economy.

The Mexican retail network is dominated by large-scale distribution, with supermarkets representing the largest part of total retail trade. The number of local shops and neighborhood stores is decreasing, as a consequence of the rise of the middle class widely influenced by US consumer habits. Walmex (owned by Wal-Mart) accounts for almost 25% of retail sales and has more than 700 stores in the country. Non-store retailing (internet retailing and direct selling) is rapidly increasing as more and more people have access to the Internet.

Mexico is one of the emerging countries most open to foreign direct investment. The areas where foreign investments are concentrated the most are the border towns with the United States (where assembly factories are located), as well as in Mexico City. The Yucatan peninsula also is a target of foreign investments thanks to its tourism industry. These investments come mostly from the United States and Spain. The sectors which receive the largest amount of foreign investments are the financial, automobile and electronics industries. For more information, you can consult the Mexico 2010 Investment Climate Statement published by the US Department of State and the Mexico Investment Map available on the website of Pro México, a Mexican government institution in charge of strengthening Mexico´s participation in the international economy.

Also visit the websites of the Mexican Embassy to the United States, the American Chamber of Commerce in Mexico,and the U.S. Commercial Service in Mexico. The sites give extensive information about the market with news and business guides, and the Commercial Service programs conferences, trade missions and training. If that's not enough, you'll also find plenty of good research at the FITA Mini Portal of Mexico a feature of the FITA Web site. The FITA Mini Portal has an overview of the country, with facts about the language, currency, climate, etc., plus more specific information about the economy, markets, taxes, labor market indicators, and tips on doing business in Mexico.

The Mexico Mini Portal is one of many research gateways at the FITA site. To find Mini Portals for other countries, just click on "Country Profiles" from within a Mini Portal, or at the FITA home page.

The World Integrated Trade Solution (WITS) is new software developed by the World Bank, in close collaboration and consultation with various International Organizations.

WITS gives you access to major international trade and tariff data compilations: UN COMTRADE (Commodity Trade) database maintained by the United Nations Statistical Division (UNSD); TRAINS (Trade Analysis Information System) maintained by the United Nations Conference on Trade and Development (UNCTAD); IDB (Integrated Data Base) and CTS (Consolidated Tariff Schedule) databases maintained by the World Trade Organization (WTO).

WITS provide users with capabilities to retrieve and analyze trade and tariff data; convert data between different nomenclatures; customize country and product groups; and download data. Registration is free. However, access to databases themselves can be fee-charging or limited depending on your status.

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