Mexico
Latin America · Mexico City · MXN (Mexican Peso)
Economy & industry overview
Mexico is Latin America's second-largest economy and a member of the G20, USMCA, OECD, and CPTPP, with a nominal GDP of approximately $1.85 trillion as of 2024. The economy is heavily oriented toward manufacturing and exports, particularly automotive, electronics, and machinery, with the United States absorbing roughly 83% of total exports. Key drivers include a large manufacturing base, a significant oil and gas sector (dominated by state-owned Pemex), a broad consumer retail market, and substantial remittances from the Mexican diaspora in the United States. Services account for approximately 64% of GDP, with industry at around 32% and agriculture at roughly 4%. Mexico has benefited from nearshoring trends as global supply chains diversify, positioning it as a competitive manufacturing hub adjacent to the US market.
Key sectors
📘 Learn everything about Mexico →Macro
| GDP nominal, USD | $1.85T |
| GDP growth real, annual | 1.5% |
| Inflation annual | 4.7% |
| Population people | 131.9M |
| GDP per capita USD | $13,741 |
| Market cap total listed, USD | $530.00B |
| Market cap / GDP | 28.6% |
| Unemployment | 2.7% |
| Listed companies | 144 |
| Exchange | Bolsa Mexicana de Valores (BMV) |
Data year: 2024. Sources: World Bank, IMF World Economic Outlook (April 2026), INEGI (Instituto Nacional de Estadística y Geografía), Bolsa Mexicana de Valores (BMV), Wikipedia – Economy of Mexico, Wikipedia – Mexican Stock Exchange, Baker McKenzie Cross-Border Listings Guide, Dallas Fed Mexico Economic Update, Macrotrends, Trading Economics, OECD Economic Snapshot – Mexico, Statista, CEOWORLD Magazine, Disfold.com, SimplyWall.st, Mexico News Daily.
Latest news
Other Latin America markets
Largest listed companies
The biggest companies on the main local exchange, by market capitalisation.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Grupo México, S.A.B. de C.V.GMEXICOB · BMV | Mining & Metals | $64.00B | GMBXF |
| 2 | América Móvil, S.A.B. de C.V.AMXB · BMV | Telecommunications | $44.50B | AMX |
| 3 | Wal-Mart de México y Centroamérica, S.A.B. de C.V.WALMEX* · BMV | Retail | $43.00B | — |
| 4 | Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA)FEMSAUBD · BMV | Consumer Staples / Beverages & Retail | $29.00B | FMX |
| 5 | Grupo Financiero Banorte, S.A.B. de C.V.GFNORTEO · BMV | Financial Services / Banking | $26.52B | GBOOY |
| 6 | Industrias Peñoles, S.A.B. de C.V.PE&OLES* · BMV | Mining & Metals | $20.62B | IPOAF |
| 7 | Coca-Cola FEMSA, S.A.B. de C.V.KOFL · BMV | Beverages (Non-Alcoholic) | $20.50B | KOF |
| 8 | Arca Continental, S.A.B. de C.V.AC* · BMV | Beverages (Non-Alcoholic) | $18.30B | EMBVF |
| 9 | FIBRA PrologisFIBRAPL14 · BMV | Real Estate (REIT – Industrial) | $17.69B | — |
| 10 | CEMEX, S.A.B. de C.V.CEMEXCPO · BMV | Materials / Construction | $8.00B | CX |
| 11 | Grupo Bimbo, S.A.B. de C.V.BIMBOA · BMV | Food Processing | $12.50B | GRBMF |
| 12 | Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. (IDEAL)IDEALB1 · BMV | Industrials / Infrastructure | $6.96B | — |
| 13 | Grupo Comercial Chedraui, S.A.B. de C.V.CHDRAUIB · BMV | Retail | $6.50B | — |
| 14 | Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASUR)ASURB · BMV | Industrials / Transportation & Airports | $9.80B | ASR |
| 15 | Grupo Aeroportuario del Pacífico, S.A.B. de C.V. (GAP)GAPB · BMV | Industrials / Transportation & Airports | $8.20B | PAC |
| 16 | Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMA)OMAB · BMV | Industrials / Transportation & Airports | $4.20B | OMAB |
| 17 | Grupo Carso, S.A.B. de C.V.GCARSOA1 · BMV | Industrials / Conglomerate | $11.00B | — |
| 18 | Banco del Bajío, S.A.BBAJIOO · BMV | Financial Services / Banking | $4.10B | — |
| 19 | Regional, S.A.B. de C.V. (Banregio)RA · BMV | Financial Services / Banking | $3.20B | — |
| 20 | Kimberly-Clark de México, S.A.B. de C.V.KIMBERA · BMV | Consumer Staples / Household Products | $5.10B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market — the simplest route for many US investors.
| Ticker | ETF | Issuer | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|---|---|
| FLMX | Franklin FTSE Mexico ETF | Franklin Templeton | Single-country | 0.09% | 99% |
| EWW | iShares MSCI Mexico ETF | BlackRock (iShares) | Single-country | 0.50% | 99% |
| VWO | Vanguard FTSE Emerging Markets ETF | Vanguard | Broad EM | 0.08% | 2% |
| ILF | iShares Latin America 40 ETF | BlackRock (iShares) | Regional | 0.48% | 20% |
| GML | SPDR S&P Emerging Latin America ETF | State Street Global Advisors (SPDR) | Regional Delisted | 0.49% | 25% |
| EEM | iShares MSCI Emerging Markets ETF | BlackRock (iShares) | Broad EM | 0.70% | 2% |
Local exchange & access
| Exchange | Bolsa Mexicana de Valores |
| Code | BMV |
| Website | www.bmv.com.mx |
| Currency | MXN |
Local broker access
Foreign investors can access Mexican equities through US-listed ADRs on NYSE/NASDAQ, or through international brokers offering direct BMV access (e.g., Interactive Brokers). Mexican law permits foreign ownership of listed shares. The Indeval institution handles securities custody and settlement in Mexico. Currency risk (MXN/USD) is a material factor, as the peso has experienced significant volatility. Capital gains on Mexican equities are taxable in Mexico for residents; non-resident tax treatment varies by treaty. The BMV's benchmark index is the S&P/BMV IPC (Índice de Precios y Cotizaciones).
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only — not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants Temporary residency (income/asset-based, renewable; no dedicated investment-migration programme)
Mexico does not operate a formal golden visa or citizenship-by-investment programme in the conventional sense. However, Mexico offers a Temporary Resident visa and pathway to Permanent Residency based on economic solvency (demonstrating sufficient income or assets), not a direct investment-for-residency scheme. Foreign nationals who can demonstrate monthly income equivalent to approximately 500 times the daily minimum wage (roughly USD 2,600/month) or assets of approximately 20,000 times the daily minimum wage may qualify for Temporary Residency, which is renewable annually for up to four years before Permanent Residency can be applied for.
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Mexico allows foreign nationals to obtain Temporary Residency based on demonstrated financial solvency (income or savings thresholds set by the INM, Mexico's National Immigration Institute), without requiring a specific investment in Mexican assets. After four years of continuous Temporary Residency, applicants may apply for Permanent Residency. Mexico does not have a formal investment-migration or citizenship-by-investment programme. Cost of living is considerably lower than in North America or Western Europe, and many expatriates settle in cities such as Mexico City, Guadalajara, Monterrey, and coastal areas like Puerto Vallarta and Tulum.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US — investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| América Móvil, S.A.B. de C.V. | AMX | AMXB | Listed on NYSE. One of the most liquid Mexican ADRs, representing the dominant Latin American telecom group. ADR ratio: 1 ADR = 20 Series L shares approximately. |
| Arca Continental, S.A.B. de C.V. | EMBVF | AC* | OTC-traded. ADR for the second-largest Coca-Cola bottler in Latin America, with significant US bottling territory acquired from Coca-Cola Company. |
| CEMEX, S.A.B. de C.V. | CX | CEMEXCPO | Listed on NYSE. ADR for the global cement and building materials giant. Historically one of the most widely held Mexican securities by US and international investors. |
| Coca-Cola FEMSA, S.A.B. de C.V. | KOF | KOFL | Listed on NYSE. ADR for the world's largest independent Coca-Cola bottler. Dividend-paying company with operations across multiple Latin American countries. |
| Fomento Económico Mexicano (FEMSA) | FMX | FEMSAUBD | Listed on NYSE. ADR representing FEMSA's beverages, retail (OXXO), and other divisions. One of the most actively traded Mexican ADRs in the US market. |
| Grupo Aeroportuario del Centro Norte (OMA) | OMAB | OMAB | Listed on NASDAQ. ADR for the operator of 13 airports in north-central Mexico, including Monterrey's international airport serving Mexico's industrial heartland. |
| Grupo Aeroportuario del Pacífico (GAP) | PAC | GAPB | Listed on NYSE. ADR for the operator of 12 airports on Mexico's Pacific coast and Bajío region, plus Montego Bay, Jamaica. Liquid mid-cap ADR with tourism and logistics exposure. |
| Grupo Aeroportuario del Sureste (ASUR) | ASR | ASURB | Listed on NYSE. ADR for the airport operator of nine airports in southeastern Mexico including Cancún. Provides direct exposure to Mexican tourism and air travel growth. |
| Grupo Financiero Banorte | GBOOY | GFNORTEO | OTC-traded ADR for Mexico's largest domestically-owned bank. Less liquid than NYSE-listed Mexican ADRs but provides direct exposure to Mexican domestic financial services. |