IMD Competitiveness Report Ranks Mexico Second Most Competitive Economy in Latin America

Mexico gains nine places to number 38th globally in IMD's 2011 World Competitiveness Yearbook

MEXICO CITY, May 20, 2011 /PRNewswire-USNewswire/ -- The International Institute for Management Development (IMD) has ranked the Mexican economy the second most competitive in Latin America, according to IMD's 2011 World Competitiveness Yearbook (WCY).  

Mexico gained nine spots this year from its 2010 ranking to number 38th globally. Mexico's ranking is higher than other Latin American nations such as Brazil, Argentina, Peru, Colombia and Venezuela.

"Mexico is a booming nation; a nation of growth, a nation with long-term vision," Mexico President Felipe Calderon noted in a May 16 speech during the "Mexico es Oportunidad" conference. "Today we enjoy an economic climate that is ideal for business development."

As Mexico continues to build on the economic momentum generated last year when -- during the height of the global recession -- it posted its third highest growth in 30 years and largest monthly trade surplus in over 15 years, the country continues to grow its trade, business development and sustainability sectors.

The World Competitiveness Yearbook analyzes 59 of the world's most competitive economies on their ability to create and maintain a climate in which businesses can compete.  IMD takes both quantitative and qualitative data into consideration in the rankings.  Factors include economic performance, government efficiency, business efficiency and infrastructure.  In 2010, Mexico was ranked 47th in the world.

The United States and Hong Kong led this year's rankings, followed by Singapore, Sweden, Switzerland and Taiwan.

SOURCE Ministry of the Economy of Mexico