For Mexico, the list of major industries includes food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables and tourism.
Since the introduction of the North American Free Trade Agreement, or NAFTA, in the 1980s, Mexico’s economy has become increasingly manufacturing-based. Decreased government control in the 1980s and increased private industry, was followed by rapid economic growth. Mexico is one of the most developed manufacturing centers in all of Latin America and, as of 2014, has a $1.3 trillion economy.
Within Mexico, the major industrial cities are Mexico City, Guadalajara, Monterrey, Ciudad Juarez and Tijuana. Food and beverage production takes the lead among Mexico’s industries; it produces more than 8 million bottles of soft drinks per year. Automotive manufacturers include Ford and Volkswagen.
More than 90 percent of Mexico’s trade occurs under free trade agreements, with countries such as Japan, Honduras and the European Free Trade Area. Mexico is the United State’s third-largest import source.
For all its manufacturing wealth, income distribution in Mexico is still extremely unequal. Per-capita income is approximately one-third what it is in the United States.Learn more about Economics