Performance overview: Mexico
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Mexico improves six positions to 51st place, mainly driven by gains in market efficiency. Domestic and foreign competition in the goods market all improve significantly, reflecting the results of competition and trade policy reforms. Labor markets have boosted flexibility and incentives, and financial markets have improved affordability. Primary education continues to be a significant competitiveness weakness compared to regional and global leaders, and institutional quality is lagging. The Mexican economy has been hit by falling oil prices, weak global trade, and a resulting fall in industrial production. However, it is still one of the most competitive economies in the region, and is making progress on some of the fundamental drivers of future prosperity.