Chamber of Commerce Country Factsheet Last update: 13.09.2018
Your advisors at the Chamber of Commerce
- Violaine Mathurin+352423939481
- Thomas Bertrand+352423939337
The site of several advanced Amerindian civilizations - including the Olmec, Toltec, Teotihuacan, Zapotec, Maya, and Aztec - Mexico was conquered and colonized by Spain in the early 16th century. Administered as the Viceroyalty of New Spain for three centuries, it achieved independence early in the 19th century. Elections held in 2000 marked the first time since the 1910 Mexican Revolution that an opposition candidate - Vicente FOX of the National Action Party (PAN) - defeated the party in government, the Institutional Revolutionary Party (PRI). He was succeeded in 2006 by another PAN candidate Felipe CALDERON, but Enrique PENA NIETO regained the presidency for the PRI in 2012, and will serve as president until December 2018. The global financial crisis in late 2008 caused a massive economic downturn in Mexico the following year, although growth returned quickly in 2010. Ongoing economic and social concerns include low real wages, high underemployment, inequitable income distribution, and few advancement opportunities for the largely indigenous population in the impoverished southern states. Since 2007, Mexico's powerful drug-trafficking organizations have engaged in bloody feuding, resulting in tens of thousands of drug-related homicides.
Sources: The CIA World Factbook - Mexico
Growth is set to pick up, underpinned by private consumption and exports. Uncertainty will continue to restrain private investment, although earthquake-related reconstruction activities are expected to take place in 2018. However, private investment could accelerate if the NAFTA negotiations end favourably. Public investment will remain subdued. Unemployment is projected to remain at historic low levels. Inflation will continue to decline from its high level to closer to the central bank’s target.
Structural reforms have already visible effects but challenges persist, including high levels of violence and corruption, poverty, inequality, informality and slow productivity growth. Reaping the full benefits of structural reforms will require keeping the momentum for successful implementation nationwide, complemented by a new wave of reforms to strengthen the rule of law and improve institutional quality.
Source: OECD - Economic Forecast
|Gross domestic product, constant prices|
|Gross domestic product, current prices|
U.S. dollars (Billions)
|Gross domestic product per capita, current prices|
U.S. dollars (Units)
|Inflation, average consumer prices|
|Volume of imports of goods and services|
|Volume of exports of goods and services|
Percent of total labor force
|Current account balance|
U.S. dollars (Billions)
|Current account balance|
Percent of GDP
Source: IMF Statistics
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 07.02.2001 (Memorial 2001, A No.160, p.3360)
- Effective as of 01.01.2002 (Memorial 2001, A No.160, p.3360)
- Amendment of the Convention from 07.10.2009 (Memorial 2010, A No.51, p.830)
- Effective as of 01.01.2012 (Memorial 2010, A No.51, p.830)
Air Services agreement
- Agreement from 19.3.1996 (Memorial 1999, A, p. 1538)
- Effective as of 06.24.1999 (Memorial 1999, A, p. 2018)
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact points in Mexico
Embassy of the Grand Duchy of Luxembourg in Mexico
Ambassador with residence in Washington: Mrs Sylvie LUCAS
Honorary Consul with jurisdiction in the states of Yucatan, Campeche and Quintana Roo:
Mr José Luis PONCE GARCIA
Corporación Mercantil Peninsular, S.A.de C.V.
Calle 25-A N° 500-BX 58-A
Colonia Itzimna C.P.97100 Merida, Yucatan
Tél.: (+52) 9999 27 3443
Fax: (+52) 9999 26 1725
Economic and Commercial Attaché (AWEX) in charge of Mexico
Economic and Commercial Attaché: Mrs Florence VANHOLSBEEK
41, Avenida Alfredo Musset (Polanco)
11550 Mexico D.F.
Tel: +52 55 52 80 40 66/65
Country risk as defined by Office du Ducroire for Mexico
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other useful links
- CIA World Factbook on Mexico
- Le Mexique sur le site de l'Awex
- Promexico: Mexico promotion agency
- Mexico Projects Hub: portofolio of investment & infrastructure projects in Mexico
- ELAN Network: European and Latin American Technology based Business network
- The Latin America IPR SME Helpdesk
- Conseils sur comment aborder le marché mexicain
- Mexique: Bureau Business France
- Delegation of the European Union to Mexico
- Doing Business in Mexico
- Economic Freedom Index - Mexico
- Das ist Mexiko
The Chamber of Commerce and the country
- 04.10.2015 - 10.10.2015