The World Factbook about Mexico Mexico has a free market economy with a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. The number of state-owned enterprises in Mexico has fallen from more than 1,000 in 1982 to fewer than 200 in 1998. The Mexican economy is in its third year of recovery from the recession of 1995, which was touched off by a financial crisis. A strong export sector helped to cushion the economy's decline in 1995 and led the recovery in 1996 and 1997. Mexico still needs to overcome many structural problems as it strives to modernize its economy and raise living standards.
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