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Mexico Overview

With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources, Mexico is among the 15 largest economies in the world and the second-largest economy in Latin America. The country has solid macroeconomic institutions, is open to trade, and has a diversified manufacturing base connected to global value chains. 

Over the last three decades, Mexico has underperformed in terms of growth, inclusion, and poverty reduction compared to similar countries. Its economic growth averaged just above 2 percent a year between 1980 and 2022, limiting progress in convergence relative to high-income economies.

The Mexican economy grew by 3.2% in 2023, the second consecutive year of growth exceeding 3%, a moderation after the post-pandemic rebound. The official multidimensional poverty rate fell from 43.9% in 2020 to 36.3% in 2022, lifting 8.8 million Mexicans out of poverty, although extreme poverty has decreased more slowly.

The economy has recovered its employment and Gross Domestic Product (GDP) pre-pandemic levels. Mexico’s stable macroeconomic framework, the U.S. dynamism, and solid manufacturing base will support economic growth.

To accelerate sustainable economic growth and poverty reduction over the medium term, Mexico needs to address structural constraints such as limited access to finance, insecurity, informality, regulatory burdens, and infrastructure bottlenecks. Tackling these challenges is essential to fully seize the opportunity that nearshoring represents in the current international environment.


Last Updated: Mar 27, 2024

to support Mexico's economic recovery in 2011.


Mexico: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments
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Additional Resources

Country Office Contacts

MEXICO +5255 5480-4200 (Visits by appointment)
Insurgentes Sur No. 1605, Piso 24 Col. San José Insurgentes, México 03900, D. F.
USA +1 202 473-1000
1818 H Street NW, Washington, DC 20433