North America | Rank #13 nominal, #13 PPP
GDP of Mexico: $2.1T in 2026 (IMF Data)
Latin America's second-largest economy, deeply integrated with the US through CUSMA, and the leading beneficiary of nearshoring from China.
Source: IMF World Economic Outlook (April 2026 release) | Last verified June 2026
Mexico 2026
$2.1T
Nominal GDP (USD)
+1.6%
Real GDP growth, 2026 IMF projection
$15,800
Per capita (nominal USD)
$3.6T
PPP GDP (international USD)
Population (2026)
129M
Currency
MXN
Capital
Mexico City
Region
North America
The Mexico Economy in 2026
Mexico is the United States' largest trading partner, having overtaken China in 2023. CUSMA (the successor to NAFTA) underpins integrated North American supply chains, particularly in automotive manufacturing, where Mexican plants assemble vehicles for GM, Ford, Stellantis, Toyota, Nissan, and Volkswagen. The northern manufacturing belt (Nuevo Leon, Coahuila, Chihuahua, Baja California) hosts most of this capacity.
Nearshoring is the dominant economic story. Foreign direct investment hit a record $36 billion in 2023 as multinationals diversified away from Chinese-sourced production. Industrial parks across northern Mexico have near-full occupancy and rents have risen sharply. Tesla's planned Monterrey gigafactory, Chinese EV-maker investment, and continued Asian-supplier expansion are part of the same trend.
Real GDP growth slowed to 1.8 percent in 2025 from 3.2 percent in 2023, partly because of high real interest rates from Banxico and partly because nearshoring investment requires time to convert into operational output. The IMF projects +1.6 percent for 2026. Remittances from Mexicans abroad at over $63 billion annually are the second-largest source of foreign exchange after exports.
Sector Composition
How Mexico's GDP breaks down by economic sector (approximate 2024 shares, source: World Bank national accounts).
Expenditure Components: C + I + G + (X-M)
Approximate shares of Mexico's GDP by spending category. Net exports are negative (trade deficit).
Note: Shares are calculated on an absolute basis for visual proportionality. Negative net exports reduce GDP rather than adding to it.
Historical GDP Trajectory
| Year | Nominal GDP (USD) | Real Growth |
|---|---|---|
| 2014 | $1.3T | +2.8% |
| 2020 | $1.1T | -8.5% |
| 2024 | $1.8T | +1.5% |
| 2025 | $1.8T | +1.8% |
| 2026 | $2.1T | +1.6% |
Source: IMF World Economic Outlook (2026 forecast) and World Bank Open Data (earlier-year actuals). Nominal GDP is shown in current US dollars and moves with exchange rates as well as real output, so dollar levels for recent years can shift between data vintages. Figures rounded to one decimal trillion; real growth is the inflation-adjusted annual change in GDP.
Top Exports
The goods and services Mexico sells abroad in the largest volumes, contributing to the (X) term in the GDP formula.
Sources
- IMF Mexico Country Page: primary source for nominal and PPP figures, WEO April 2026 dataset.
- World Bank Open Data: Mexico: historical series, cross-check on sector shares.
- INEGI (National Institute of Statistics and Geography): official national accounts.
- IMF World Economic Outlook: the headline biannual cross-country dataset.