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ECLAC expected growth of 5.3% in Mexico

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Santiago, Chile .- The Mexican economy registered a 5.3 percent expansion this year and 3.5 percent in 2011, said the Economic Commission for Latin America and the Caribbean (ECLAC). According to their Preliminary Overview, Mexico has a strong recovery this year after 6.1 percent fall suffered in 2009 due to the effects of the global economic crisis.

In presenting the study, ECLAC Executive Secretary Alicia Bárcena, noted that the recovery allowed Mexico a 4.3 percent growth in income per capita in 2010 after the collapse of 7.0 percent in 2009.

ECLAC projections noted that growth of the Mexican economy in 2010 was driven by a recovery in the export sector, which returned to its levels before the crisis.

The regional agency estimated that Mexican exports will reach 293 million 571 thousand dollars this year compared to the 229 million 783 thousand dollars of last year.

ECLAC estimated that the Mexican economy will recorded a slowdown in 2011 and grow 3.5 percent this year due to uncertainties about the recovery of developed economies like the United States, Mexico’s main trading partner.

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