International organization participation: AG (observer), APEC, BCIE,
BIS (pending member), Caricom (observer), CCC, CDB, EBRD, ECLAC, FAO,
G- 6, G-11, G-15, G-19, G-24, IADB, IAEA, IBRD, ICAO, ICC, ICFTU,
ICRM, IDA, IFAD, IFC, IFRCS, ILO, IMF, IMO, Inmarsat, Intelsat,
Interpol, IOC, IOM (observer), ISO, ITU, LAES, LAIA, NAM (observer),
OAS, OECD, OPANAL, PCA, RG, UN, UNCTAD, UNESCO, UNIDO, UNU, UPU, WCL,
WFTU, WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission: Ambassador Jesus SILVA Herzog Flores chancery: 1911 Pennsylvania Avenue NW, Washington, DC 20006 telephone: [1] (202) 728-1600 consulate(s) general: Atlanta, Chicago, Dallas, Denver, El Paso, Houston, Los Angeles, Miami, New Orleans, New York, Phoenix, San Antonio, San Diego, San Francisco, San Juan (Puerto Rico) consulate(s): Albuquerque, Austin, Boston, Brownsville (Texas), Calexico (California), Corpus Christi, Del Rio (Texas), Detroit, Eagle Pass (Texas), Fresno (California), Laredo, McAllen (Texas), Midland (Texas), Nogales (Arizona), Oxnard (California), Philadelphia, Sacramento, St. Louis, Salt Lake City, San Bernardino, San Jose, Santa Ana, Seattle
Diplomatic representation from the US: chief of mission: Ambassador James R. JONES embassy: Paseo de la Reforma 305, Colonia Cuauhtemoc, 06500 Mexico, Distrito Federal mailing address: P. O. Box 3087, Laredo, TX 78044-3087 telephone : [52] (5) 211-0042 FAX: [52] (5) 511-9980, 208-3373 consulate(s) general: Ciudad Juarez, Guadalajara, Monterrey, Tijuana consulate(s): Hermosillo, Matamoros, Merida, Nuevo Laredo
Flag description: three equal vertical bands of green (hoist side), white, and red; the coat of arms (an eagle perched on a cactus with a snake in its beak) is centered in the white band
Economy
Economy - overview: Mexico has a free market economy with a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. The Mexican economy enters 1997 in the midst of an economic recovery that began to pick up steam in mid-1996. After plummeting more than 6% in 1995 in the aftermath of the peso crisis, economic activity in Mexico grew by an estimated 5.1% in 1996. Many private forecasters who had scoffed at the ZEDILLO administration's 3% growth target for 1996 are now projecting economic expansion of 4-5% for 1997. Strong export growth continues to drive the economy; total exports were up roughly 16% in 1996 compared to 1995. By the end of 1996, however, Mexican government statistics showed that increased domestic consumption and investment spending were also beginning to contribute to the recovery. Despite these positive economic trends, structural problems and vulnerabilities remain. Low savings rates will keep Mexico dependent on foreign capital; national savings as a share of GDP plunged from a peak of 25% in 1983 to less than 14% in 1994. Additionally, Mexico City is still struggling to bail out a banking sector burdened with bad debts. Mexico's international trade continues to be highly dependent on the US market. The US/Mexico trade balance has shifted over the last two years because of the peso's rapid devaluation in late 1994, which made Mexican exports much more attractive. In 1995 and 1996, the US ran trade deficits with Mexico, a large turnaround from 1994's trade surplus of about $1.3 billion.
GDP: purchasing power parity - $777.3 billion (1996 est.)
GDP - real growth rate: 5.1% (1996 est.)
GDP - per capita: purchasing power parity - $8,100 (1996 est.)
GDP - composition by sector: agriculture : 8% industry: 28% services: 63% (1995 est.)