Transcript Mexico
Mexico Lesson 3 C Economy Do Now Who do you think has a better economy? United States Mexico Give at least three reasons to support your answer. Essential Question What are the main characteristics of Mexico’s economy? Vocabulary Maquiladoras maquiladora A factory located along Mexico’s northern boarder with the United States. Assembly plants where workers are putting together products from parts imported to Mexico. Maquiladora continued… How would you describe the economy of Mexico? 1. Read pages 185-187. Mexico’s Economy Primary Industries An economic activity that directly involves natural resources or raw materials Farming and Mining are examples (corn, wheat, soybean,rice,coffee, tomatoes, and wood products. 3.9% of labor force is involved in primary industries. Secondary Industries (Factories) Most factories are Maquiladoras (assembly plants). Mexico City is the main manufacturing center Products-petroleum, mining, textiles, clothing, motor vehicle parts 32.8% of workforce is employed in Factories Service Industries An industry where no goods are produced Hospitals, hotels, police, fire, restuarants, transportation, banking Provide more than half of Mexico’s jobs (63.4%) Exports Major exporter of oil since 1970 Export about 1.225 million barrels of oil per day Huge exporter of assembled goods manufactured in Mexico and exported primarily to US. United States Canada GDP In Dollars 16.23 trillion 1.474 trillion GDP Per Capita In Dollars $51,700 $42,300 Unemployment 8.1% 7.3% exchange rate US Dollar Life Expectancy 78 years Canadian Dollar .99 81 years Mexico United States Canada Mexico GDP In Dollars 16.23 trillion 1.474 trillion 1.798Trillion GDP Per Capita In Dollars $51,700 $42,300 $15,400 Unemployment 8.1% 7.3% 5% exchange rate US Dollar Peso 13.17 Life Expectancy 78 years Canadian Dollar .99 81 years 76 years NAFTA North American Free Trade Agreement An agreement between Canada, Mexico, and the United States that allowed the countries to trade freely with each other. (NO TAXES ON IMPORTS) Summarization Activity How would you describe the economy of Mexico? What are the main characteristics? Tell me 4 important things that you learned about Mexico’s economy.