Mexico | Mexican Economy: Challenges and Opportunities from the 2024 Economic Census

Summary

The Mexican economy faces significant structural challenges. The 2024 Economic Census provides key data on business growth, employment, productivity, and issues related to informality and widespread use of cash, which are essential for shaping economic development policies.

Key points

• Key points:
• The 2024 Economic Census (CE-24) conducted by INEGI identifies 5.48 million economic units employing 27.8 million people.
• The average annual intercensal growth rate of businesses has remained 2.6% since 2008, showing no significant improvement.
• The CE-24 reveals that cash transactions predominate in 83.8% of economic units, limiting access to formal financing and generating additional risks.
• Furthermore, only 3 out of 10 microenterprises use accounting systems, significantly lower than the 97.1% reported by large firms.
• These findings highlight the need to strengthen economic policies to increase formality, productivity, and value-added generation.

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