Last week, President Donald Trump’s threat to impose a 5% tariff on all Mexican imports was narrowly averted— perhaps only temporarily — thanks to a last-minute agreement for Mexico to stem illegal immigration to the US.
The news has thrust Mexico’s economy into the global spotlight.
Mexico has a strong economy with a gross domestic product that ranks 15th globally, thanks largely to its manufacturing and petroleum exports. But Mexico is also a nation of contradictions. Its economic power translates poorly to the country’s populace, almost half of which live in poverty.
Meanwhile, Carlos Slim, Mexico’s richest man and the sixth richest person in the world, has a net worth equal to 5% of Mexico’s entire GDP.
Here are 11 surprising facts about Mexico’s economy: