Economy & industry overview
Mexico has a large, open, free-market mixed economy and is the 12th to 13th largest economy in the world by nominal GDP, with 2024 output estimated at approximately 1.85 trillion USD. The economy is deeply integrated with North America through the United States-Mexico-Canada Agreement, with manufacturing, oil and gas, remittances, tourism, and financial services forming its core pillars. Manufacturing alone accounts for roughly 20 percent of GDP, driven by automotive, electronics, and aerospace industries. The nearshoring trend has attracted foreign direct investment as multinational firms relocate supply chains closer to the United States. Structural challenges include regional inequality, infrastructure gaps, energy sector constraints, and security concerns.
Key sectors
Learn everything about Mexico →Macro
| GDP nominal, USD | $1.85T |
| GDP growth real, annual | 1.5% |
| Inflation annual | 4.7% |
| Population people | 133.5M |
| GDP per capita USD | $13,870 |
| Market cap total listed, USD | $460.00B |
| Market cap / GDP | 24.8% |
| Unemployment | 2.8% |
| Listed companies | 144 |
| Exchange | Bolsa Mexicana de Valores (Mexican Stock Exchange) (BMV) |
Primary data year: 2024. Sources: IMF World Economic Outlook (April 2026), World Bank, INEGI (Instituto Nacional de Estadistica y Geografia), Bolsa Mexicana de Valores (BMV), MSCI 2025 Global Market Accessibility Review, MSCI Market Classification Framework June 2025, S&P Dow Jones Indices, S&P/BMV IPC factsheet, SSE Initiative BMV profile, companiesmarketcap.com, Worldometer GDP, Tetakawi Mexico GDP by Sector (2025). Individual figures may cover different reference periods — for example a fiscal year, or an estimate for the current year — and the overview above states these where known.
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Other Latin America markets
Largest listed companies
The biggest companies on the main local exchange, by market capitalisation. Where a foreign company holds a secondary listing here, it is shown after the domestic companies.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Grupo Mexico SAB de CVGMEXICOB · BMV | Materials · Mining and Metals | $95.93B | GMBXF |
| 2 | America Movil SAB de CVAMX B · BMV | Communication Services · Telecommunications | $74.58B | AMX |
| 3 | Fomento Economico Mexicano SAB de CV (FEMSA)FEMSA UBD · BMV | Consumer Staples · Beverages and Retail | $46.16B | FMX |
| 4 | Walmart de Mexico SAB de CV (Walmex)WALMEX V · BMV | Consumer Staples · Food and Staples Retailing | $44.60B | WMMVF |
| 5 | Grupo Financiero Banorte SAB de CVGFNORTE O · BMV | Financials · Banking | $30.85B | GBOOY |
| 6 | Coca-Cola FEMSA SAB de CVKOFUBL · BMV | Consumer Staples · Beverages | $24.80B | KOF |
| 7 | Cemex SAB de CVCEMEX CPO · BMV | Materials · Building Materials | $14.58B | CX |
| 8 | Industrias Penoles SAB de CVPE&OLES · BMV | Materials · Mining and Metals | $9.50B | — |
| 9 | Grupo Aeroportuario del Pacifico SAB de CV (GAP)GAP B · BMV | Industrials · Airport Operations | $8.20B | PAC |
| 10 | Arca Continental SAB de CVAC · BMV | Consumer Staples · Beverages | $7.80B | EMBVF |
| 11 | Grupo Aeroportuario del Sureste SAB de CV (ASUR)ASURB · BMV | Industrials · Airport Operations | $7.60B | ASR |
| 12 | Grupo Bimbo SAB de CVBIMBOA · BMV | Consumer Staples · Food Products | $6.90B | GRBMF |
| 13 | Grupo Financiero Inbursa SAB de CVGFINBURO · BMV | Financials · Banking and Insurance | $5.80B | — |
| 14 | Grupo Carso SAB de CVGCARSOA1 · BMV | Industrials · Diversified Conglomerate | $5.40B | — |
| 15 | Kimberly-Clark de Mexico SAB de CVKIMBERA · BMV | Consumer Staples · Household and Personal Products | $5.20B | — |
| 16 | Gruma SAB de CVGRUMAB · BMV | Consumer Staples · Food Products | $5.10B | GMKKY |
| 17 | Grupo Nacional Provincial SAB de CV (GNP)GNNVEO · BMV | Financials · Insurance | $4.80B | — |
| 18 | Becle SAB de CV (Cuervo)CUERVO · BMV | Consumer Staples · Spirits and Beverages | $4.70B | — |
| 19 | Grupo Financiero Santander Mexico SAB de CVBSMXB · BMV | Financials · Banking | $4.60B | BSMX |
| 20 | Fibra Uno Administracion SAB de CVFUNO11 · BMV | Real Estate · FIBRAs (REITs) | $4.20B | — |
| 21 | Grupo Aeroportuario del Centro Norte SAB de CV (OMA)OMAB · BMV | Industrials · Airport Operations | $4.10B | OMAB |
| 22 | Banco del Bajio SAB de CV (BanBajio)BBAJIOO · BMV | Financials · Banking | $3.10B | — |
| 23 | Regional SAB de CVRA · BMV | Financials · Banking | $2.50B | — |
| 24 | Grupo Lala SAB de CVLALAB · BMV | Consumer Staples · Food Products | $2.00B | — |
| 25 | Vitro SAB de CVVITROA · BMV | Materials · Glass Products | $1.30B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market, the simplest route for many US investors.
| ETF | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|
| FLMXFranklin FTSE Mexico ETF · Franklin Templeton | Single-country | 0.09% | 100% |
| EWWiShares MSCI Mexico ETF · BlackRock iShares | Single-country | 0.50% | 100% |
| VWOVanguard FTSE Emerging Markets ETF · Vanguard | Broad EM | 0.08% | 3% |
| ILFiShares Latin America 40 ETF · BlackRock iShares | Regional | 0.48% | 20% |
| GMLSPDR S&P Emerging Latin America ETF · State Street SPDR | Regional Delisted | 0.49% | 15% |
| EEMiShares MSCI Emerging Markets ETF · BlackRock iShares | Broad EM | 0.70% | 3% |
Local exchange & access
| Exchange | Bolsa Mexicana de Valores (Mexican Stock Exchange) |
| Code | BMV |
| Website | www.bmv.com.mx |
| Currency | MXN |
Local broker access
Foreign investors may access Mexican equities through international brokers offering BMV-listed securities or through US-listed ADRs and ETFs. Direct account opening at a Mexican brokerage (casa de bolsa) requires local documentation and tax registration. Major Mexican brokerages include GBM, Actinver, and Vector Casa de Bolsa. US-based retail platforms often provide access to the most liquid Mexican names via their NYSE or OTC listings. The BMV participates in the MILA integrated Latin American market, which may broaden cross-border access for investors in Chile, Colombia, and Peru.
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
Foreign-investor access
Mexico does not operate a formal golden visa or citizenship-by-investment programme. Foreigners may obtain temporary or permanent residency through standard immigration categories including employment, retirement income thresholds, family reunification, or by demonstrating sufficient financial means. The National Immigration Institute (INM) administers residency applications. Mexico City, Monterrey, and Guadalajara are popular destinations for expatriates and digital nomads, partly due to relatively low costs of living and proximity to the United States.
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 |
|---|---|---|---|
| America Movil SAB de CV | AMX | AMX B | Listed on the NYSE. America Movil is one of the largest telecom companies in Latin America. Its US ADR is among the most liquid and widely traded Mexican equities in the United States. |
| Cemex SAB de CV | CX | CEMEX CPO | Listed on the NYSE. Cemex is one of the world's largest cement and building materials producers with global operations. Its US ADR has traded on the NYSE for decades and is widely covered by international analysts. |
| Coca-Cola FEMSA SAB de CV | KOF | KOFUBL | Listed on the NYSE. Coca-Cola FEMSA is the world's largest Coca-Cola bottler by volume and a subsidiary of FEMSA. Its US ADR offers direct exposure to Mexican and Latin American beverage consumption trends. |
| Fomento Economico Mexicano SAB de CV (FEMSA) | FMX | FEMSA UBD | Listed on the NYSE. FEMSA is a consumer staples and retail conglomerate and the parent of Coca-Cola FEMSA and the OXXO convenience store chain. Its ADR provides straightforward access to one of Mexico's most diversified companies. |
| Grupo Aeroportuario del Centro Norte SAB de CV (OMA) | OMAB | OMAB | Listed on the Nasdaq. OMA operates 13 airports in northern and central Mexico. Its US ADR is one of three major Mexican airport operator ADRs available to US investors. |
| Grupo Aeroportuario del Pacifico SAB de CV (GAP) | PAC | GAP B | Listed on the NYSE. GAP operates 12 airports on Mexico's Pacific coast and in the Bajio region. Its US ADR provides exposure to Mexico's growing aviation and tourism sectors. |
| Grupo Aeroportuario del Sureste SAB de CV (ASUR) | ASR | ASURB | Listed on the NYSE. ASUR operates nine airports in southeastern Mexico including Cancun International, one of the busiest airports in Latin America. It is a popular holding for investors seeking infrastructure and tourism exposure in Mexico. |
| Grupo Banorte SAB de CV | GBOOY | GFNORTE O | Trades on the US OTC market. Banorte is Mexico's largest domestically owned bank by market capitalization. Its OTC listing provides a route for US investors to access Mexico's leading domestic financial institution. |
| Grupo Financiero Santander Mexico SAB de CV | BSMX | BSMXB | Listed on the NYSE. Santander Mexico is the Mexican subsidiary of Banco Santander and one of the largest banks in Mexico. Its US ADR allows investors to access Mexican banking sector growth through a familiar international brand. |
| Grupo Mexico SAB de CV | GMBXF | GMEXICOB | Trades on the US OTC market. Grupo Mexico is the country's largest mining company and a major global copper producer. Its OTC shares are less liquid than a full NYSE ADR but offer direct exposure to Mexican mining operations. |