Mexico

In 2003 the Mexican economy looks set to complete a third consecutive year of virtual stagnation, having recorded average annual growth of 5.4% between 1996 and 2000. Gross domestic product (GDP) grew by 0.8% in 2002 –barely half the government’s target– and an expansion of around 1.5% is forecast for 2003. This lacklustre performance is insufficient to avert fresh job losses or to halt the slide in per capita income. The 2002 result reflected a combination of sluggish consumption, a slide in investment for the second year running and a weak performance by non-oil exports, which had been the engine of Mexican economic growth in recent years. A robust upswing in oil exports and lower international interest rates gave contrast to an otherwise largely negative external panorama.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions