Mexico City, Mexico News

About Mexico City, Mexico

Mexico City is one of the most important economic hubs of Latin America. The city proper (Federal District) produces 21.8% of the country's Gross domestic product.

According to a study conducted by PricewaterhouseCoopers, Greater Mexico City (with a population of 19.2 million) had a GDP of $315 billion in 2005 (at purchasing power parity), ranking as the eighth-richest urban agglomeration in the world and the richest in Latin America; in 2020 it is expected to rank seventh with a $608 billion GDP.

Mexico City alone would be the 30th largest economy in the world with a higher GDP than countries like Sweden or Switzerland. Mexico City is also one of the largest financial and commercial hubs in Latin America. The Mexican stock exchange (Bolsa Mexicana de Valores) and the country's largest banks and insurers, as well as many international financial services conglomerates for Latin America, are headquartered in the city.

In terms of GDP per sector, the Federal District is the greatest contributor to the country's industrial GDP (15.8%) and also the greatest contributor to the country's GDP in the service sector (25.3%). Due to the limited non-urbanized space at the south—most of which is protected through environmental laws—the contribution of the Federal District in agriculture is the smallest of all federal entities in the country.

The city proper's nominal GDP per capita is $22,696, the highest of any city in Latin America. Mexico City's Human Development Index (HDI) is the highest in the country at 0.8830, higher than the national average. Amongst other welfare indicators, 50% of the habitants of Mexico City have access to the Internet, 58% own a cell phone, with virtually each household having a phone line.

Over the last two decades the economic base has shifted strongly, as the manufacturing activities move to the state of Mexico (Mexico city suburbs) and even to other states, partly due to an environmental program of tax incentives offered by the government to manufacturers: existing companies could be eligible to tax-certificates if they installed pollution control equipment.

New plants, on the other hand, were only eligible to the same benefits if they were to be located outside Mexico City.

Other Major Cities:

• Ecatepec
• Guadalajara
• Puebla
• Ciudad Juárez
• Tijuana
• León
• Nezahualcóyotl
• Monterrey
• Zapopan
• Naucalpan
• Chihuahua
• Mérida