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Mexico

By understanding Mexico and its economy, we can better understand our own economy. Learn about this unique and dynamic relationship with research from the Dallas Fed.
  • China remains modest player in U.S.–Mexico trade despite growing scrutiny

    Understanding Mexico’s evolving economic linkages with East Asia and China is critical to the future of the United States–Mexico–Canada Agreement (USMCA trade accord) and the nearshoring and integration of North American manufacturing supply chains.

  • Declining immigration weighs on GDP growth, with little impact on inflation

    In Depth: Unauthorized immigration surged sharply in 2021–24 but has since declined abruptly with negative implications for economic growth.

  • Mexico Economic Update

    Mexico’s economy shows mixed signals

    The latest data available indicated a mixed economic outlook as employment and remittances fell, while output primarily driven by agriculture, industrial production, exports and retail sales grew.

  • U.S. tariff outcomes dependent on trading partner responses

    In Depth: U.S. tariff policy has historically shifted among competing goals: providing revenue, protecting domestic markets and opening foreign markets to domestic producers. These goals are unlikely to be achieved simultaneously.

  • Mexico Economic Update

    Mexico’s economy continues to decelerate amid worsening economic outlook

    The consensus forecast for 2025 real GDP growth (fourth quarter, year over year) compiled by Banco de México fell to 0.5 percent in March. The latest data available indicated a slowing economy.

  • Outlook for North American Trade and Immigration

    Tariffs, immigration and nearshoring are the current defining topics for the U.S.–Mexico relationship. The Federal Reserve Bank of Dallas and the Peterson Institute for International Economics hosted this conference on the economic outlook for North America through the lens of these issues.

  • Weighing Texas economic resilience amid tariffs, workforce challenges

    Ray Perryman, principal of Waco-based The Perryman Group, has been an observer of the Texas economy for more than four decades. He offers his views of what has propelled Texas since the 1980s oil bust and the state’s future prospects, and he recounts how he grew his economics firm.

  • Mexico Economic Update

    Mexico’s economic growth slows in 2024; outlook weakens

    Mexico’s GDP grew only 0.9 percent year over year in fourth quarter 2024, after expanding 2.4 percent in 2023 and 4.6 percent in 2022. Economic growth slowed, mainly due to lower investment, slowing consumption and a contracting energy sector.

  • Mexico, U.S. and China offer an evolving ‘triangular’ trade relationship

    Enrique Dussel Peters, a professor at the Graduate School of Economics at the Universidad Nacional Autonóma de México and coordinator of the university’s Center for Chinese–Mexican Studies, discusses trade flows between the U.S., Mexico and China and their prospects.

  • Mexico Economic Update

    Mexico’s economic growth surprises to the upside

    The Mexican economy expanded an annualized 4.4 percent in the third quarter, according to official preliminary data. Output in both the services and goods-producing sectors increased, and heavy rainfall during the quarter helped the agricultural sector recover.