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Sudan and Mexico: Economic Overview 2023

Sudan has a mixed legal system of Islamic law and English common law. It has a developing economy based historically on agriculture but now driven by oil production. Literacy is around 70% and Sudan has mineral and energy resources. Political instability and international sanctions have hampered growth. India and Sudan have longstanding friendly relations despite some differences. Mexico has a large, globally engaged economy that is highly integrated with the US economy through NAFTA. Mexico has a population of over 120 million and is classified as an upper middle income country and emerging power. Manufacturing now dominates the economy, though services are the largest sector. Mexico trades extensively with the US and Canada and has a network of trade agreements around the world.

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0% found this document useful (0 votes)
19 views6 pages

Sudan and Mexico: Economic Overview 2023

Sudan has a mixed legal system of Islamic law and English common law. It has a developing economy based historically on agriculture but now driven by oil production. Literacy is around 70% and Sudan has mineral and energy resources. Political instability and international sanctions have hampered growth. India and Sudan have longstanding friendly relations despite some differences. Mexico has a large, globally engaged economy that is highly integrated with the US economy through NAFTA. Mexico has a population of over 120 million and is classified as an upper middle income country and emerging power. Manufacturing now dominates the economy, though services are the largest sector. Mexico trades extensively with the US and Canada and has a network of trade agreements around the world.

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Sudan

Political factors: Sudan is a representative democratic republic, where the President of Sudan is
Head of State, Head of Government and Commander-in-Chief of the Sudanese Armed Forces in a
multi-party system.
The legal system is based on Islamic law; as of January 20, 1991, the now defunct Revolutionary
Command Council imposed Islamic law in the northern states; Islamic law applies to all residents of
the northern states regardless of their religion; some separate religious courts; accepts compulsory
International Court of Justice jurisdiction, with reservations. (In short: mixed legal system of Islamic
law and English common law.)
Rich mineral resources are available in Sudan including asbestos, chromite, cobalt, copper, gold,
granite, gypsum, iron, kaolin, lead, manganese, mica, natural gas, nickel, petroleum, silver, tin,
uranium and zinc.
Literacy Rate 70.2% of total population, male: 79.6%, female: 60.8%.
High crime rate due to political instability.

Economy: In 2010, Sudan was considered the 17th-fastest-growing economy in the world and had a
rapid development of the country largely from oil profits even when facing international sanctions.
According to a World Bank report the overall growth in GDP in 2010 was 5.2 percent compared to
2009 growth of 4.2 percent. While historically agriculture remains the main source of income and
employment hiring of over 80 percent of Sudanese, and makes up a third of the economic sector, oil
production drove most of Sudan's post-2000 growth.

GDP (PPP) 2014 estimate


Total - $94 billion
Per capita - $2,673
GDP (nominal) 2014 estimate Total $63 billion
Per capita $1,793
Gini (2009) - 35.3 (medium)
HDI (2013) - 0.473 (low 166th)
GDP by sector - agriculture: 27.4%, industry: 33.6%, services: 39% (2013 est.)

Industries: oil, cotton ginning, textiles, cement, edible oils, sugar, soap distilling, shoes, petroleum
refining, pharmaceuticals, armaments, automobile/light truck assembly

Industrial production growth rate:

11% (2013 est.)

Labor force:

11.92 million (2007 est.)

Labor force - by occupation:

agriculture: 80%
industry: 7%
services: 13% (1998 est.)

Unemployment rate: 20% (2012 est.)

Population below poverty line: 46.5% (2009 est.)


Inflation rate (consumer prices): 25% (2013 est.)

Current account balance: -$1.98 billion (2013 est.)

Exports:
$4.145 billion (2013 est.)
$3.368 billion (2012 est.)

Exports - commodities: gold; oil and petroleum products; cotton, sesame, livestock, groundnuts,
gum arabic, sugar

Exports - partners: UAE 63.2%, Saudi Arabia 9.2%, Ethiopia 5.3% (2012)

Imports: $5.941 billion (2013 est.)


Imports - commodities: foodstuffs, manufactured goods, refinery and transport equipment,
medicines and chemicals, textiles, wheat

Imports - partners: Macau 18.1%, India 8.8%, Saudi Arabia 7.9%, Egypt 6.7%, UAE 5.2% (2012)

Reserves of foreign exchange and gold:


$202.2 million (31 December 2013 est.)

Debt - external:
$40.92 billion (31 December 2013 est.)

Exchange rates:Sudan has been working with the IMF to implement macroeconomic reforms,
including a managed float of the exchange rate.
Sudanese pounds (SDG) per US dollar 5.83 (2013 est.)
3.57 (2012 est.)
2.31 (2010 est.)
2.3 (2009)
2.1 (2008)

Embargos and sanctions: On 3 November 1997, the U.S. government imposed a trade embargo
against Sudan and a total asset freeze against the Government of Sudan under Executive Order
13067. The U.S. believed the Government of Sudan gave support to international terrorism,
destabilized neighbouring governments, and permitted human rights violations. A consequence of
the embargo is that U.S. corporations cannot invest in the Sudan oil industry, so companies in China,
Malaysia and India are the major investors.

Relation with Indian economy: (Not precisely about Indian Economy) Indo-Sudanese relations
have always been characterised as longstanding, close, and friendly, even since the early
development stages of their countries. At the time of Indian independence, Sudan had contributed
70,000 pounds, which was used to build part of the National Defence Academy in Pune. The main
building of NDA is called Sudan Block. The two nations established diplomatic relations shortly after
India became known as one of the first Asian countries to recognise the newly independent African
country. India and Sudan also share geographic and historical similarities, as well as economic
interests. Both countries are former British colonies, and remotely border Saudi Arabia by means of
a body of water. India and Sudan continue to have cordial relations, despite issues such as India's
close relationship with Israel, India's solidarity with Egypt over border issues with Sudan, and Sudan's
intimate bonds with Pakistan and Bangladesh. India had also contributed some troops as United
Nations peacekeeping force in Darfur.

Mexico
Political factors:
Government type: federal republic

Mexico has one of the world's largest economies, it is the tenth largest oil producer in the
world, the largest silver producer in the world and is considered both a regional power and
middle power. In addition, Mexico was the first Latin American member of the Organisation
for Economic Co-operation and Development OECD (since 1994), and considered an uppermiddle income country by the World Bank. Mexico is considered a newly industrialized
country and an emerging power. It has the fifteenth largest nominal GDP and the tenth
largest GDP by purchasing power parity. The economy is strongly linked to those of its North
American Free Trade Agreement (NAFTA) partners, especially the United States. Mexico
ranks sixth in the world and first in the Americas by number of UNESCO World Heritage Sites
with 32, and in 2010 was the tenth most visited country in the world with 22.5 million
international arrivals per year.
Legal system: civil law system with US constitutional law influence; judicial review of legislative
acts.
Economic factors
Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the
20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita
income is roughly one-third that of the US; income distribution remains highly unequal. Mexico
has become the United States' second-largest export market and third-largest source of imports.
In 2013, two-way merchandise trade reached nearly $507 billion. Mexico has free trade
agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European
Free Trade Area, and Japan - putting more than 90% of trade under free trade agreements. In
2012 Mexico formally joined the Trans-Pacific Partnership negotiations and formed the Pacific
Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique
PENA NIETO, emphasized economic reforms during its first year in office, passing education,
energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for
Mexico" reform agenda aims to improve competitiveness and economic growth across the
Mexican economy.
GDP (purchasing power parity): $1.845 trillion (2013 est.)
GDP - real growth rate: 1.2% (2013 est.)
GDP - per capita (PPP): $15,600 (2013 est.)
GDP - composition, by end use:

household consumption: 69.1%


government consumption: 11.8%

investment in fixed capital: 22.7%


investment in inventories: -1%
exports of goods and services: 31.2%
imports of goods and services: -33.8%
(2013 est.)

GDP - composition, by sector of origin:

agriculture: 3.6%
industry: 36.6%
services: 59.8% (2013 est.)

Agriculture - products: corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef,
poultry, dairy products; wood products
Industries: food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles,
clothing, motor vehicles, consumer durables, tourism
Industrial production growth rate: 3.5% (2013 est.)
Labor force: 51.48 million (2013 est.)
Labor force - by occupation:

agriculture: 13.4%
industry: 24.1%
services: 61.9% (2011)

Unemployment rate: 4.9% (2013 est.)


Population below poverty line: 52.3%
Inflation rate (consumer prices): 4% (2013 est.)

Majors exports and imports - Whether they trade deficit or surplus


Current account balance: -$14.18 billion (2013 est.)
Exports: $370.9 billion (2013 est.)
Exports - commodities: manufactured goods, oil and oil products, silver, fruits, vegetables,
coffee, cotton
Exports - partners: US 78% (2012)

Imports: $370.7 billion (2013 est.)


Imports - commodities: metalworking machines, steel mill products, agricultural machinery,
electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and
aircraft parts
Imports - partners: US 49.9%, China 15.4%, Japan 4.8% (2012)
Exchange rates:
Mexican pesos (MXN) per US dollar 12.76 (2013 est.)
13.17 (2012 est.)
12.636 (2010 est.)
13.514 (2009)
11.016 (2008)

Relation with Indian economy: Trade between the two nations has been steadily increasing
on an average of 30% each year. India is Mexico's 21st most important trading partner with
Mexico importing from India diamonds, automobile parts and other electronic equipment.
India mainly imports from Mexico oil, petroleum based products and minerals, among other
things. Commerce between the two nations amounted to $7 billion USD. In 2012, India
proposed that both nations should work towards a free trade agreement with each other
respectively.

Future prospects of the countries: According to Goldman Sachs, by 2050 Mexico is expected
to become the world's fifth largest economy. PricewaterhouseCoopers (PwC) estimated in
January 2013 that by 2050 Mexico could be the world's seventh largest economy. Mexico
has membership in prominent institutions such as the UN, the WTO, the G20 and the
Uniting for Consensus.

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