Mexico's economy, explained with numbers

Know the numbers before you decide on Mexico

A plain-spoken information hub on Mexico's economy: what it is, how big, how fast it moves, and what is changing this year. Every figure carries its source and date. Behind it sits a consulting practice, advising on Mexico's economy since 2008.

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Mexico in numbers

One border, two scales

Mexico is a large neighbour with a younger population and a much lower income per person than the United States. Both facts matter for anyone doing business there.

Population, 2025

Millions of people

Population, 2025Mexico131.9 mUnited States341.8 m
Source: World Bank, World Development Indicators, updated 13 July 2026, both countries on the same basis. INEGI's own 2025 intercensal count, published 22 September 2026, is 130.9 million.

Output per person, 2025

US dollars per person: current prices, and adjusted for purchasing power

Output per person, 2025Mexico, current$13,889Mexico, PPP$25,868United States$90,027
Source: World Bank, World Development Indicators, 2025 (current prices); World Bank NY.GDP.PCAP.PP.CD, updated 13 July 2026 (purchasing-power parity). The US figure is the same in both.

US-Mexico trade in goods and services, 2025

Billions of US dollars

US-Mexico trade in goods and services, 2025US sells to Mexico$390.4 bnUS buys from Mexico$580.6 bn
Source: US Bureau of Economic Analysis, US International Transactions factsheet, 2025. The two flows total about US$971 billion (derived).

Minimum wage for one day

US dollars per day, general minimum wage in Mexico against an eight-hour day at the US federal minimum

Minimum wage for one dayMexico, 2026$17.60United States$58.00
Source: Mexico: CONASAMI agreement of 3 December 2025, as reported by Garrigues, 10 December 2025: 315.04 pesos a day from 1 January 2026, converted at 17.9042 pesos per dollar (DOF, 29 December 2025). United States: federal minimum of $7.25 an hour times eight, US Department of Labor, as of 1 July 2026. Border zone in Mexico: 440.87 pesos a day.

All charts, with sources and dates

What is changing in 2026

The treaty, the tariffs and the duties

The USMCA review

The first joint review of the treaty took place on 1 July 2026. The United States declined to renew it in its current form; Mexico and Canada said they wanted to renew. The treaty is not ended. It stays in force until 2036 and is now reviewed every year.

Sources: USTR, 1 July 2026; Congressional Research Service IF11175, 13 August 2026.

US tariffs

On 20 February 2026 the US Supreme Court ruled that the emergency-powers law used for the 2025 tariffs does not allow them. A 10 percent duty under Section 301 has applied to products of Mexico since 24 July 2026, and US Customs has said it does not apply to goods entered duty-free under the USMCA.

Sources: Supreme Court, 20 February 2026; USTR, 23 July 2026; CBP notice 69326983, 23 July 2026.

Mexico's own import duties

A decree published on 29 December 2025 raised the general import duty on 1,463 tariff lines from 1 January 2026.

Source: Diario Oficial de la Federación, 29 December 2025.

US imports from Mexico claiming USMCA treatment

Approximate share of imports

US imports from Mexico claiming USMCA treatmentabout 50%Before 2025about 80%July 202588%Jan-May 2026
Source: Federal Reserve Bank of Dallas, 4 August 2026 (first two figures); Congressional Research Service, In Focus IF11175, 13 August 2026 (88 percent).
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