Mexico: A Promising Start to 2010

Over the course of the past year, Mexico has worked intensively to recover from the economic crisis by adopting sound economic policies and various measures that promote freedom and open markets. The government of Latin-America’s second-largest economy not only pledged to reject protectionist measures, like most of the G-20 economies, but also implemented significant tariff reductions, increased revenues, and cut government spending. The result can be seen today in that Mexico’s economy is on the path to recovery: industrial production has risen, exports have grown, and new jobs have been created.

Exports to Mexico Work for the U.S. Economy

Current economic conditions have significantly improved in Mexico and the U.S., boosting a robust 32% growth of bilateral trade in the first quarter of 2010, which translates to $90 billion. U.S. export growth to Mexico has a significant impact on U.S. GDP and job creation. In 2008, over $150 billion in U.S. exports to Mexico contributed to approximately $300 billion of U.S. GDP, according to a recent study conducted by the U.S. Chamber of Commerce. This same study also found that trade with Mexico supports nearly 5.5 million jobs in the United States.

Success Stories

• Ford Reopens Manufacturing Plant to Produce the 2011 Fiesta
• Linamar to Invest $120 Million in Mexico
• Renault will Increase Production Capacity in Mexico
• Korean Company will Manufacture Wind Energy Generators

State Profiles

• Wyoming
• Morelos

Download File 06-june10

2010, NAFTA Works