In 2018 Mexico’s economy ranked second in Latin America and 15th in the world in terms of GDP, which totalled $1.22trn, according to the World Bank. In 2019 the newly elected President Andrés Manuel López Obrador has pushed ahead with efforts to meet his pledge to tackle corruption and implement austerity measures within the government, to reduce costs and curb excessive expenditures.
Amid an uncertain global economic outlook, Mexico has positioned itself as a strategic centre of production, innovation and consumption in the digital economy.
Environmental, social and governance issues are a growing focus in Mexico, particularly social inclusion and transparency, followed by other governance and environmental matters.
With countries and energy companies around the world looking to accelerate their transitions towards cleaner energy resources, Latin American nations are developing plans to scale up the production, consumption and export of so-called green hydrogen, which is generated from clean energy resources.
As Latin America continues its recovery from the Covid-19 pandemic, several countries are undertaking large-scale transport infrastructure projects to improve regional and international connectivity and trade.
A number of Latin American and Caribbean countries have strengthened their ties with China after signing a wide-ranging economic and political agreement.
Mexico has rebounded swiftly from the pandemic as economic activity resumed and the country became the first in Latin America to begin a mass vaccination programme.
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