What was Mexico's economy in 1900's?

Answer 1

Mexican economy at the beginning of the 20th century was focused on agriculture and raw material extraction. This means Mexico's economy was concentrated on mining and oil, cultivation of crops such as corn, coffee and sugar and the transportation required to move such raw materials within or outside the country, including railroads and seaports. In general, the infrastructure was poor, there was no heavy industry and the commerce and services sector was negligible as Mexico had a small population of 13.6 million in 1900. Mexico's GDP at the time is estimated at approximately US$15.7 billion by today's terms.

Today Mexico has a fairly developed economy, ranked as 12th largest in the world. It is more diversified and is now dependent on services and trade. The most important activities include finance, tourism and high-tech industries such as machinery and equipment. Oil is still important but rapidly decreasing due to waning petroleum reserves. There are however, many contrasts between the rich and the poor and the urban and rural populations: while cities such as Monterrey have an income per capita of US$22,000 comparable to countries such as Poland or Portugal in Europe, there are still 5 million of Mexicans that survive on less than US$1.25 a day. Current Mexican GDP is estimated at US$1,560 billion.