In 2017, Mexico had a population of around 123 million people, and Mexico City was home to more than 8 million people. Close to 80 percent of the country is urban; an urbanization rate similar to many developed nations around the world. At present, the urban economy is strong and free trade is a prominent characteristic of the economy. Agricultural contributions to GDP are on the rise and the sector now contributes 3.85 percent to the nation’s GDP despite onl y 13 percent of the workforce being employed in agriculture.
Overall, GDP has staggered somewhat in the last couple of years, but growth is expected to regain itself in the coming years. Future growth rates are expected to range between 1.85 to 2.73 percent per year up until 2022. In 2017, GDP per capita amounted to an estimated 9,249 U.S. dollars. However, as mentioned above, income inequality remains a problem and furthermore, even though the unemployment rate is declining and stands at less than 4 percent, underemployment is also a prevalent in Mexico. Due to inequality, the lure of Mexico’s northern neighbor, the United States, has been quite strong. As a result, many Mexicans have immigrated to the United States in search of a better future, yet the flow of migrants has slowed over the last decade and the current political climate is much less supportive of immigration.