A key sector of the Mexican economy, the energy industry is set to undergo radical changes as a result of the structural reform passed by the government in 2013. The reform will open the nationalised oil industry to foreign investment, allow for open competition in the electricity market, enable private companies to build natural gas pipelines with more freedom, and will give producers of...
Mexico
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Mexico’s banking system has been experiencing a period of stability unseen in its recent history. With sound and well-capitalised banks, the task now seems to be improving Mexico’s low banking and credit penetration. Domestic credit as a proportion of GDP stood at 47% in 2013, according to the World Bank, well below the average of 75% for Latin America and lower than Brazil (111%), Chile (108...
Despite being deeply affected by the global financial crisis of 2008-09, Mexico’s economy had been recovering since 2010, growing 5.1% and around 4% in 2011 and 2012, respectively. A steady recovery was interrupted in 2013 by growth of just 1.1% as a result of weak exports and a contraction in the construction industry. Overall export growth slowed from 6.1% in 2012 to 2.6% in 2013, shaving...
Chapter | Country Profile from The Report: Mexico 2014
More than a decade of multi-party elections have consolidated Mexico’s transition to democracy, while the current administration’s ambitious reform agenda promises to take the country to its next phase of development. In less than two years in office, the government of Enrique Peña Nieto has accomplished a great deal. Radical changes in education, telecoms and energy, among other areas, aim to...
The second-largest economy in Latin America, Mexico seems poised to enter a new growth phase as the government of Enrique Peña Nieto implements radical changes in a number of sectors across the economy. The reforms, aimed at raising the competitiveness of the Mexican economy, have the potential to establish Mexico’s position as a regional powerhouse.