Mexico

Clay Budach

Capital

Mexico City

Flag

President

    Enrique Peña Nieto



Main exports

The value of Mexican crude oil exports totaled $49.4 billion in 2011, which is significantly larger than the $35.9 billion worth of crude Mexico exported in 2010, when it ranked as the 10th largest oil exporter according to the United Nations Commodity Trade Statistics Database, A.K.A., UN Comtrade.

Main Imports

  • Electronics
  • Machines
  • Engines
  • Railway and tram equipment

Type of economy

Limited Freedom

What do they trade to the US?

The top export categories (2-digit HS) in 2013 were: Machinery ($38.5 billion), Electrical Machinery ($36.7 billion), Mineral Fuel and Oil ($23.0 billion), Vehicles ($21.6 billion), and Plastic ($15.3 billion).

Type of currency

Peso

Tariffs and taxes on imports and exports

Mexico has developed “Sectoral Promotion Programs” (PROSEC) that aims to reduce or eliminate tariffs on several sectors. The gradual elimination and reduction of import duties will conclude in 2013 and the tariff structure will have six basic rates: 0%, 5%, 7%, 10%, 15% and 20%.