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MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in June 2024.

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GDP USD1414.18bn (World ranking 14, World Bank 2022)
Population 127.05mn (World ranking 10, World Bank 2022)
Form of state Federal Republic
Head of government Andrés Manuel Lopez Obrador (President) - Claudia Sheinbaum Pardo (President-elect)
Next elections 2030, General Election
  • Second-largest market in Latin America, benefitting from the positive cycle in the US and among the most open in the world.
  • Solid fiscal profile, ample domestic financing and easy access to global capital markets which allow the government to cover financing requirements easily.
  • Durable political framework with stable handovers of power and legacy of pro-business reforms by previous administrations.
  • Dependence on the US, which buys around 31% of Mexican GDP, leaves it vulnerable to shifts in trade and industrial policy.
  • Fiscal position highly sensitive to oil prices and large contingent liabilities potentially stemming from the sector, which contributes to around 30% of government revenue.
  • Skewed income distribution and elevated security risk.

Trade structure by destination/origin

(% of total, 2022)

Exports Rank Imports
United States 78.3%
1
43.9% United States
Canada 2.7%
2
19.6% China
China 1.9%
3
3.7% Korea, Republic of
Germany 1.4%
4
3.1% Germany
Taiwan 1.3%
5
3.0% Japan

Trade structure by product

(% of total, 2022)

Exports Rank Imports
Road vehicles 21.3%
1
9.5% Electrical machinery, apparatus and appliances, n.e.s.
Electrical machinery, apparatus and appliances, n.e.s. 10.2%
2
7.6% Road vehicles
Office machines and automatic data processing machines 8.0%
3
7.1% Petroleum, petroleum products and related materials
Petroleum, petroleum products and related materials 6.5%
4
7.0% Telecommunication and sound recording apparatus
Telecommunication and sound recording apparatus 5.9%
5
5.5% Other industrial machinery and parts
The Allianz Trade Collection Complexity Score provides a simple assessment of how easy it is to collect debt around the world. The 2022 edition covers 49 countries that represent nearly 90% of global GDP and 85% of global trade.
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