How has mexicos economy changed in the last three decades?

Answer 1

• Competitiveness: Competing against the BRIC bloc (Brazil, Russia, India, China) for economic opportunities, markets and foreign investment from developed countries.
• Economy: World economic bust compounded with a Swine Flu (H1N1) scare is keeping a depressed economy: the high dependence on America as receiver of Mexican exports as well as source of international tourists have impacted negatively on the Mexican economy to astonishing levels (-7% of growth during 2009).
• Poverty: Although Mexico is a world leader in hunger reduction, there is still a 5% of children under 5 suffering with malnutrition; according to the United Nations Development Programme, 17.6% of Mexicans (19.7 million for 2009) are below the poverty line.

Answer 2

In the 1980s, Mexico was a closed economy, which depended on the economic model of "import substitution" and had many oil reserves that, when exported, were used to finance the majority of the country's needs through the state oil company, Petroleos Mexicanos (PEMEX). In 1980, GDP per capita was around $ 3,296 at current market prices.

Today, Mexico has a fairly developed economy, ranked as the 12th largest in the world. It is more diversified and now depends on services and commerce. The most important activities include finance, tourism and high-tech industries such as machinery and equipment. Oil continues to be important, but is declining rapidly due to the decrease in oil reserves. The current Mexican GDP per capita is estimated at $ 19,500.

Answer 3

In the 1980s, Mexico was a closed economy, which depended on the economic model of "import substitution" and had many oil reserves that, when exported, were used to finance the majority of the country's needs through the state oil company, Petroleos Mexicanos (PEMEX). In 1980, GDP per capita was around $ 3,296 at current market prices.

Today, Mexico has a fairly developed economy, ranked as the 12th largest in the world. It is more diversified and now depends on services and commerce. The most important activities include finance, tourism and high-tech industries such as machinery and equipment. Oil continues to be important, but is declining rapidly due to the decrease in oil reserves. The current Mexican GDP per capita is estimated at $ 19,500.