Economy
From 1940 and until 1980, Greater Mexico City experienced an intense rate of demographic growth concurrent with the economic policy of import substitution. Mexican industrial production was heavily centralized in Greater Mexico City during this period which produced intense immigration to the city. Close to 52% of the economically active population of Greater Mexico City worked in the industry sector in 1970. This situation changed drastically during the period of 1980 to 2000, in which the economic based shifted to the service sector which in 2000 employed close to 70% of the economically active population in the conurbation. The annual rate of growth decreased sharply as well as the regional and national patterns of immigration: residents are moving out of the core city to the suburbs or to nearby cities, whereas the northern states now receive a larger number of immigrants as new hubs of industrial production. Greater Mexico City's main industries are now related to trade, financial services, insurance companies, telecommunications, informatics and transportation. In spite of the recent shifts in economic production and the decentralization of the economic activity promoted by the government, Greater Mexico City's share of total economic activity in the country is still high, though decreasing. Mexico City proper alone produces 21.8% of the nation's Gross Domestic Product, larger than any of the states.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
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