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Internet Securities Inc.

Mexico's Economy Experiences Strong Growth in 2004

Strategic Insights

— 1 min read

The Mexican economy experienced a significant boom in 2004, with a growth rate exceeding 4%, according to President Vicente Fox. The growth was driven by increasing investment and manufacturing activity, with exports playing a crucial role in stimulus growth. Fox attributed the country's success to the efforts of every Mexican citizen, highlighting the importance of exports, which rose by 7.2% year-on-year in December, marking 16 consecutive monthly increases in foreign sales. The country's total exports in 2004 reached US$189 billion, a 14.7% increase from 2003.

Key Takeaways:

  • The Mexican economy grew by more than 4% in 2004, exceeding the official estimate.
  • Investments and manufacturing activity were key drivers of the growth, with exports playing a crucial role in stimulus growth.
  • President Vicente Fox attributed the country's success to the efforts of every Mexican citizen.
  • Exports rose by 7.2% year-on-year in December, marking 16 consecutive monthly increases in foreign sales.
  • Total exports in 2004 reached US$189 billion, a 14.7% increase from 2003.
  • Imports of intermediate goods and capital goods showed significant growth, with rates exceeding 9%.
  • Fox expects continued growth in 2005 at a rate greater than that of 2004.

Statistics:

  • The Mexican economy grew by 4% or more in 2004.
  • Exports rose by 7.2% year-on-year in December 2004.
  • There were 16 consecutive monthly increases in foreign sales.
  • Total exports in 2004 reached US$189 billion.
  • Exports in 2004 increased by 14.7% compared to 2003.
  • Imports of intermediate goods grew by more than 9% in 2004.

*.exports of capital goods grew by more than 9% in 2004.

Sources:

  • CNI/Corporate Mexico by Internet Securities, Inc. via COMTEX.
  • Internet Securities, Inc. abstract.
  • COMTEX (http://www.comtexnews.com).
  • Copyright 2005 Internet Securities, Inc., all rights reserved. A Euromoney Institutional Investor Company.

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