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Country facts
| Capital city: |
Mexico City |
| Surface area: |
1,958,000 sq km |
| Population: |
105.3 million |
| Official language(s): |
Spanish |
| Head of State & Head of Government: |
H.E. President Mr Felipe Calderón Hinojosa |
| Australian exports to Mexico: |
A$551 million |
| Australian imports from Mexico: |
A$1,233 million |
| Mexico's principal export destinations: |
USA, Canada, Germany |
| Mexico's principal import sources: |
USA, China, Japan | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Trade relations and statistics
Mexico is actively pursuing a program designed to reduce its reliance on the USA as a trading partner. It most recently signed a free trade agreement with Japan in March 2004. Mexico has completed free trade agreements with 33 countries giving it access to over one billion consumers.
Over the past 10 years, Mexico has negotiated free trade agreements with the following countries:
- Japan
- Costa Rica
- Colombia and Venezuela (Grupo de los Tres)
- Nicaragua
- Chile
- European Union
- Ireland
- Liechtenstein – Norway – Switzerland (Asociacion Europea de Libre Comercio)
- Guatemala, Honduras and El Salvador (Triangulo del Norte)
- Bolivia
The North American Free Trade Agreement was signed in 1994 between Mexico, the USA and Canada. All non-tariff barriers to agricultural trade between Mexico and the USA were eliminated. In addition, many tariffs were eliminated immediately, with others being phased out by 2008 for goods originating in Mexico. It also strives to promote fair competition, increased investment, to protect and enforce intellectual property rights, and to increase cooperation between the countries.
Mexico has rapidly emerged as a major trading nation, mainly to the North American Free Trade agreement (NAFTA) an the subsequent surge in new manufacturing facilities in Mexico by USA, European and Asian organisations keen to sell into North America.
Mexico is now the world’s eight largest exporter, with exports to the USA and Canada accounting for almost 90 per cent of its international sales. Manufactured goods account for around 85 per cent of the total. Australian exports to Mexico have recovered strongly from the slump in the mid-1990s caused by the peso collapse.
Major Australian exports to Mexico (2007-08):
- Coal – A$140 million
- Computer parts and accessories – A$40 million
- Medicaments (including veterinary) – A$40 million
- Meat (excluding beef) – A$38 million
Major Australian imports from Mexico (2007-08):
- Internal combustion piston engines – A$153 million
- Computers – A$152 million
- Telecom equipment and parts – A$126 million
- Passenger motor vehicles – A$105 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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