Mexico

How Large Is Mexico's Economy?

Mexico's GDP of $1.86T makes it a high-income economy by World Bank classification. GDP per capita of $14,186 is 5% above the regional average of 13,500 (World Bank, 2025). The economy has grown 35% over the past decade, from $1.33T in 2013 to $1.80T in 2023. The most recent annual growth rate of 1.4% is below the global median of 3.1% (World Bank, 2025). The unemployment rate of 2.7% is 61% below the regional average of 6.9 (World Bank, 2025). Inflation of 4.7% is moderately elevated above the global median of 3.5%. Mexico's official currency is the Mexican peso ($). As a UN member, Mexico participates in multilateral trade frameworks.

Historical Economic Trajectory

Between 1994 and 2023, Mexico's GDP expanded by 225% in nominal terms, rising from $553.6B to $1.80T over 29 years. This more-than-doubling of economic output reflects sustained structural growth across the period. Over the same reference period (1994 to 2023), Mexico's population grew from 89.3M to 129.7M, a change of 45% (40.5M people) across 29 years. Steady population growth has driven demand for housing, education, and public services throughout the period. Taken together, the GDP and population trajectories from 1994 onward illustrate how Mexico's economic output has evolved relative to its demographic base. Real GDP per capita has broadly improved over the span, as nominal output growth outpaced population growth by approximately 180 percentage points.

What Are Mexico's Demographics?

With 130.6M people, Mexico is among the world's 15 most populous countries. At 66 people per km², the country is moderately populated. Population has grown at 0.9% annually over the past decade (World Bank, 2025). Life expectancy stands at 75.1 years, 3.1 years above the global average of 72 years. Infant mortality of 10.8 per 1,000 live births is 10% below the regional average of 12 (World Bank, 2025). The country's official language is Spanish. The adult literacy rate stands at 95.9% (World Bank, 2025). Over the past decade, Mexico's population grew from 89.3M to 129.7M, adding 40.5M people.

Where Is Mexico Located?

Mexico covers 1,964,375 km² (758,000 sq miles) and shares land borders with 3 countries. The country sits within the Americas region, North America subregion, spanning North America. Mexico City serves as the seat of government and administrative capital of Mexico. The country spans 3 time zones, ranging from UTC-08:00 to UTC-06:00. Recognized internationally by ISO codes MX and MEX, Mexico is an independent sovereign state and a full UN member. Its 1 currency (MXN) reflects its participation in multilateral trade and monetary frameworks.

Border Countries

United StatesGuatemalaBelize