AN ECONOMIC ANALYSIS OF MEXICO

Mexico's population as of the 1990 census was 81.5 million persons (Hunter, 1993, p. 948). The country's estimated population as of early-1994 is 89.3 million persons (Banco Nacional de Mexico, 1994, p. 21). The rate of natural population increase in Mexico is 2.3 percent annually (The World Bank, 1993, p. 229). In the early-1990s, 72.6 percent of Mexico's population resided in urban areas (Hunter, 1993, p. 948). Approximately 55 percent of the Mexican population lives in urban centers of at least 500,000 persons. The female/male distribution of the Mexican population is 50.6 percent/49.4 percent respectively (Hunter, 1993, p. 948).

Per capita gross national product in Mexico is US$1,730 (Hunter, 1993, p. 948). Stated in American dollars, the per capita gross national product in Mexico has decreased one-sixth over the past ten years. The primary reason for this decrease is the fall in the international currency exchange value of the peso.

Income distribution in Mexico is far more skewed than in the United States. Income distribution by population qunitiles in Mexico and the United States is summarized in Table 1, which may be found on the following page.

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f Payments Mexico over the past three decades has consistently registered a current account deficit (The World Bank, 1993, p. 213). The 1993 balance of payments deficit approximated US$4 billion before official transfers (Banco Nacional de Mexico, 1994, p. 44). In no other Latin American country has the foreign debt problem been more serious than it has been in Mexico. Mexico's total foreign debt exceeds US$100 billion (refer to Table 3, which may be found on the following page). Somewhat more than one-half of this foreign debt is held by commercial financial institutions--mostly banks--in the developed nations--primarily in the United States, with the remainder being held by the International Monetary Fund. As the data presented in Table 3 indicate, Mexico's total external debt exceeds 50 percent of the country's gross national product and its gross domestic product). Of even greater importance is the fact that when the country's external debt is expressed as multiples of Mexico's exports and net exports the situation looks even worse. Within the existing import/export Table 3 Mexico's External Debt Structure ================================================================= Item
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