ABSTRACT
Mexico is in a unique position among large industrializing countries: its massive energy resource endowment is being developed within the framework of a diversified economic structure with historically high growth rates. From 1950 to 1980, the gross domestic product (GDP) grew at an average annual rate of 6.5 percent. During this period the share of manufactures in nonoil GDP increased from 19 to 25 percent, and the manufacturing sector's share of employment expanded from 12 to 20 percent. More recently the Mexican economy has experienced a very rapid growth due in part to the substantial inflow of oil revenues. In the last four years the GDP has grown at 8.5 percent annually, industry at 9.6 percent, and investment in real terms at 18 percent.
