The second-largest economy in Latin America, Mexico has an export-oriented economy, more than 90% of trade is conducted under free trade agreements. Services make for 62% of overall GDP. Within services, the largest segments are wholesale and retail trade (16%), real estate (10%), transport, warehousing, and communications (7%), and financial services and insurance (6%). Industry accounts for 18% of output and the major segments within this sector are the automobile industry (which accounts for 4% of total GDP) and the food industry (which accounts for 3.8% of total GDP). Construction, water, gas, and electricity distribution (8%), mining (5%), government (4%), and agriculture, forestry, fishing, and hunting (3%) account for the remaining portion.
A higher than expected figure should be seen as positive (bullish) for the MXN while a lower than expected figure should be seen as negative (bearish) for the MXN.
