It is estimated by the World Bank that 43 percent of all Mexicans live
on less than US$2 a day. Only about a third of Mexican businesses
have access to bank credit.
Only about 11% of Mexicans have a telephone or a bank account.
Last year, monies sent back to Mexico by Mexicans resident in the USA
totaled US$5.96 billion, which makes this inflow of money the second
largest source of foreign revenue after petroleum and well ahead of
tourism.
In May, Mexico increased crude oil exports by 150,000 barrels per day
(b/d), the increase mirroring OPEC's decision to authorized a 1.45 million
b/d increase in the crude production of its members. This move is
designed to stabilize oil prices and enable a continued global economic
growth. In 1999, 86 per cent (by volume) of Mexico' crude exports
went to the USA.
The output of natural gas in Mexico has increased 32 percent during the
past five years, but this increase is not keeping up with the increased
demand. Petroleos Mexicanos (Pemex) estimates the demand will
increase 9 percent yearly over the next five years, much of which will be
utilized by projected new power plants. Pemex plans to only increase
capacity during this same five year period by 66 percent, so imports will
presumably have to make up the short fall of gas supply.
