Some interesting statistics have come out this morning. The latest report from the U.N.’s regional economic body shows that once again Mexico’s economic growth will lag the average for Latin America.
Expect Mexico’s economy to grow 3.5 percent in 2011, trailing the 4.2 percent growth for the region as a whole, the economic report says.
It’s been the same story since 2003. Every year, growth is a point or two behind the region. Except, that is, in 2009 when Mexico tallied a devastating 6.1 percent decrease in the economy, much greater than the average negative 1.8 percent decline.
Mexico, of course, is not a major source of commodities like Brazil and Argentina, which are powerhouse agricultural exporters, or Chile and Peru, major mineral exporters to China.
But still, the inability to unleash economic growth has a political cost, as demonstrated by the latest Latinobarometro 2010 survey, the respected regionwide analysis of public opinion around the hemisphere.
The survey shows that only 8 percent of Mexicans believe the economy is doing well for them. Among the major economies of Latin America, Mexico is the nation where people are least satisfied with economic performance. While the percentage of those polled in Uruguay (54), Chile (49), Brazil (47), Venezuela (38), Panama (38) and Ecuador (37) is high, only 17 percent of Mexicans are satisfied with general economic performance, the survey shows.
Mexico is also the lagging nation in Latin America in satisfaction with democracy. Only 27 percent of Mexicans are satisfied with their system as it is now, below even Guatemala and Peru, both at 28 percent. Uruguay is the champion: 78 percent are satisfied with their democracy, while in Costa Rica 61 percent are satisfied, the poll shows.