Mexico

Trade

The adoption of open trade policies and international integration had far reaching impact on the Mexican trade even before the signing of NAFTA . The 1980 's saw gradual reforms that paved the way for a progressive Mexico . During this period , the exports increased to constitute over 16 percent of the GDP while both imports and exports amounted to solid 26 .39 percent of the GDP which was 25 percent more than the preceding two decades

According to the reports published by Secreteria de Comercio y Fornento Industrial , the various reforms

in the industry saw the coverage of import licensing decrease from 100 percent at the beginning of the decade to 27 percent at the half way mark in 1985 to only 19 percent by the end of the decade . Similarly , the maximum tariff declined from 100 percent in 1980 's to one fifth of the original tariff in 1990 (Economic Growth , 1998 . Although such important measures , at the time , could not decelerate the terrible crunch in the growth rate of the economy but it definitely helped the fledgling economy to a point where it would not only be able to sustain itself in the 1994-95 crisis but see a gradual and consistent growth , later on

According to the statistics released by the IMF , World Bank and CIA Mexican GDP is set to increase from an average of 2 .85 between 1980 and 2000 to an average of 4 .2 percent from 2000 onwards until 2020 Furthermore , World Economic Outlook...