Essay On Mexico

1426 Words3 Pages

Mexico remains to be a vibrant destination for many people around the world and is the peak of the majority of American tourism and is currently ranked 10th globally in international visitor arrivals. Mexico’s economy is the 13th largest in the world, and the 11th in purchasing power. The country has an evaluated Gross Domestic Product (GDP) of around $1.567 trillion and has a land area of 1.964375 square kilometers, with 12.66 percent of it being arable land. Mexico has a population of 108.627 million people, with a labor force of 46.99 million people. Last reports show that in 2010, the unemployment rate in Mexico was composed of 5.373%. Mexico's current labor force estimates to make up 28.8%.With reference to past events, Mexico had gone through a time of intense difficulty during the 1994 Mexican Peso crisis, and the 2008 global financial crisis. This country was one of the Latin American nations that were mostly impacted by the 2008 recession to their Gross Domestic Product narrowing more than 6%. The last report of Mexico’s labor force was last reported in 2011 at 49,616,581.91. About 25% are working in agriculture, 33.3%, in industry, and unemployment rate in Mexico diminished to 4.25% in December. Mexico’s disposable income is 12,732.00 USD a year. The exchange rate of 1 USD is equivalent to around 12 Mexican pesos. The most influential Free Trade Agreement is the North American Free Trade Agreement (NAFTA), signed by the United States, Canada, and Mexico. Canada and the United States accounted for 90% in exports and 55% in imports. The organization for Economic Co-Operation and Development (OECD) and the World Trade Organization (WTO) position and recognize the Mexican worker as the number one-hard working citizen. In r... ... middle of paper ... ...bonus wage before December 20th of each year. By law, employers have to offer training to their employees and the Ministry of Labor has to give their approval. Minimum wage salary has to be paid in cash without any deductions or withholdings every week. Industrial facilities must also commit to protect the environment through the Environmental Impact Authorization (EIA). Any activity that may cause environmental concern has to be federally regulated in agreement with the Environmental Protection Law, and must be protected from the Ministry of the Environment and Natural Resources (SERMARNAT). The Operating License or the Consolidated Environmental License prevent and help control air pollution. These licenses must be secured from the Ministry of the Environment and Natural Resources (SERMARNAT). Industrial facilities must follow through with the requirements below.

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