Yes, Spain has a higher GDP per capita than Mexico and a higher overall GDP.
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Yes, Spain has a higher GDP per capita than Mexico and a higher overall GDP. According to the World Bank, Spain’s GDP per capita in 2020 was USD 29,200, while Mexico’s was only USD 9,000. Spain’s overall GDP was also significantly higher at USD 1.23 trillion compared to Mexico’s USD 1.05 trillion.
As for why Spain is richer than Mexico, it is due to a variety of factors such as Spain’s history of colonialism, higher levels of education, and stronger infrastructure. According to Hernan Goni, a senior economist at the World Bank, “Spain is a developed country and Mexico is still developing.”
Here are a few interesting facts comparing Spain and Mexico:
- Spain’s economy is the 14th largest in the world, while Mexico’s is the 11th largest.
- The unemployment rate in Spain is currently around 15%, while in Mexico it is around 5%.
- Spain is known for its tourism industry, with popular destinations like Barcelona and Madrid attracting millions of visitors each year. Mexico also has a large tourism industry, with popular destinations like Cancun and Los Cabos.
- Spain is part of the European Union, while Mexico is part of the North American Free Trade Agreement (NAFTA).
- Spain and Mexico have a shared history, with Spain colonizing Mexico in the 16th century. Today, Spanish is the second-most spoken language in Mexico after Spanish.
Table:
| Country | GDP per capita (2020) | Overall GDP (2020) |
|---|---|---|
| Spain | USD 29,200 | USD 1.23 trillion |
| Mexico | USD 9,000 | USD 1.05 trillion |
In conclusion, while both Spain and Mexico have strong economies, Spain is currently richer than Mexico due to its higher GDP per capita and overall GDP.
See related video
The video discusses why 70% of Spain is empty, citing a long history of tragedies and centralized government policies that have driven people away from rural areas. The influx of immigrants in the past 30 years has helped to offset this trend, and Spain is now among the most populated countries in Europe.
There are additional viewpoints
According to the Center for Economic and Business Research (CEBR), Spain ends 2022 occupying the sixteenth largest economy in the world, historically surpassed by Mexico after 20 years and 2 positions after last year.
According to Forbes, “in summary and based on these aforementioned forecasts, the Mexican economy, with a GDP that could exceed 1.42 trillion dollars, would end up surpassing the Spanish economy this year, which aims to register a level of GDP that would be at 1.39 trillion”.
According to the Center for Economic and Business Research (CEBR), Spain ends 2022 occupying the sixteenth largest economy in the world, historically surpassed by Mexico after 20 years and 2 positions after last year.
Surely you will be interested
In this way, How is Spain’s economy compared to Mexico?
Comparison In 2021, Mexico ranked 23 in the Economic Complexity Index (ECI 1.09), and 12 in total exports ($474B). That same year, Spain ranked 35 in the Economic Complexity Index (ECI 0.78), and 16 in total exports ($372B).
Simply so, Which is better to live Spain or Mexico?
Answer: Spain is safer, has better infrastructure and has the rest of Europe on it’s doorstep. Mexico is cheaper and has the US on it’s doorstep.
Then, Is Spain considered rich or poor?
Response: The economy of Spain is a highly developed social market economy. It is the world’s fifteenth-largest by nominal GDP and the sixth-largest in Europe. Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization.
What country is richer Mexico or USA?
As an answer to this: Economy
| MEX: total | USA: total | |
|---|---|---|
| Gross domestic product: | 1,272,839 M US$ | 23,315,081 M US$ |
| Gross national product: | 1,214,991 M US$ | 23,539,918 M US$ |
| Exported goods: | 522,235 M US$ | 2,556,638 M US$ |
| Imported goods: | 544,752 M US$ | 3,401,688 M US$ |
Also asked, Are Spaniards richer than Mexicans? Spaniards have a purchasing power of about 39,000 $ according to the IMF and Mexicans if I don’t recall wrong were somewhat below 20,000$. So Spaniards are also much wealthier than Mexicans. If by rich you mean wealth or market size that’s the answer.
Thereof, Is Mexico really the world’s wealthiest country? The reply will be: And that is true in Mexico as well. The country’s billionaire ranks swelled by one since last year to 13 list members, while their combined net worth rose by nearly a third to $136.1 billion (up from $103 billion). Just over a year ago, Forbes took a snapshot of the world’s wealthiest using stock prices and exchange rates from March 18, 2020.
Accordingly, Is Mexico the second richest country in Latin America?
For its part, the United Nations (UN), through the United Nations Development Program (UNDP), pointed out that Mexico is the second country in Latin America, in which the rich concentrate the largest amount of national income.
Are Mexico’s billionaires worth more than a year ago? Answer to this: On Forbes’ 2021 list of the world’s richest, Mexico’s billionaires are worth about one third more than a year ago, buoyed by a stronger peso and rebounding stocks. I t’s been a very prosperous year to be a billionaire, data from the 2021 Forbes list of the World’s Billionaires show. And that is true in Mexico as well.
Also Know, Are Spaniards richer than Mexicans?
Answer: Spaniards have a purchasing power of about 39,000 $ according to the IMF and Mexicans if I don’t recall wrong were somewhat below 20,000$. So Spaniards are also much wealthier than Mexicans. If by rich you mean wealth or market size that’s the answer.
One may also ask, Is Mexico really the world’s wealthiest country?
Response will be: And that is true in Mexico as well. The country’s billionaire ranks swelled by one since last year to 13 list members, while their combined net worth rose by nearly a third to $136.1 billion (up from $103 billion). Just over a year ago, Forbes took a snapshot of the world’s wealthiest using stock prices and exchange rates from March 18, 2020.
Correspondingly, Is Mexico the second richest country in Latin America?
Response: For its part, the United Nations (UN), through the United Nations Development Program (UNDP), pointed out that Mexico is the second country in Latin America, in which the rich concentrate the largest amount of national income.
Secondly, Why is Mexico a popular country?
As a response to this: The country has increasingly turned toward manufacturing, and is a major exporter and producer of oil. Mexico is home to the world’s largest population of Spanish speakers, and it has made a large cultural imprint in Latin America and beyond. The country’s famous writers include Samuel Ramos, Octavio Paz and Carlos Fuentes.