Economy: The agricultural sector produces various staple crops, including sorghum, wheat, maize, rice, beans and potatoes, largely for domestic consumption; while coffee, sugar cane, fruit and vegetables are grown for export. The contribution made by agriculture (including fishing, which is a major employer in coastal areas) has declined since the 1980s: it now employs about 20% of the workforce and accounts for 5% of GDP.

The Government has sought to combat this by scrapping the allegedly inefficient ejido (very roughly - 'collective') system introduced after the revolution of the 1910s.

The biggest growth has been in manufacturing, where the most important products are vehicles, food products, iron and steel, chemicals and machinery. An increasing number of these are located in so-called maquiladora plants, under which semi-finished goods or raw materials from the southern USA are shipped across the border into Mexico, completed, and then (for the most part) returned to the USA. The purpose is to take advantage of lower wages and running costs and the absence of major restrictions on the behaviour of corporations (as for instance environmental controls or health and safety regulations).

NAFTA (see below) has stimulated growth in this area. Mexico also has a large mining sector, producing a wide range of minerals, including silver, bismuth, arsenic and antimony; there are also smaller deposits of sulphur, lead, zinc and cadmium. However, Mexico's largest single natural resource, and the source of much of its wealth in recent years, is oil. While oil prices were relatively high, Mexico used the revenues to fund rapid industrial growth. Although prices have generally been at lower levels during the 1990s, it remains an important source of revenue.

Oil, gas and oil products account for one-third of total export earnings. In the service sector, tourism is the most important single industry, with most of the business coming from North America.

Economic relations with the economic giant to the north have become even more important since November 1993 and the signing of the North American Free Trade Agreement (NAFTA), which created a free market among the USA, Canada and Mexico. Originally an initiative of Mexican President Salinas, NAFTA created a free-trade bloc able to rival the EU in both population and economic output. As well as NAFTA, Mexico is a member of the Inter-American Development Bank, the Association for Latin American Integration (ALADI) and, most recently, the Asian-Pacific Economic Forum (APEC).

While much of its recent attention has been concentrated to the north, Mexico has not ignored economic relations with its southern neighbours, having concluded in the early 1990s a number of free trade agreements with Colombia and Venezuela (The Group of Three) and with the Hispanic countries of Central America. The USA dominates Mexico's trade, providing 70% of the country's imports (US$14.5 billion) and taking slightly under 70% (US$18 billion) of its exports. Outside the American continent, Japan, Germany and Spain are Mexico's other important trading partners. The UK is the largest foreign investor in Mexico after the USA.

Several initiatives have been undertaken to strengthen trade links between Mexico and the EU. Business: English is widely spoken in business circles although it is preferable for the visitor to be able to speak Spanish. Letters written in Spanish should be replied to in Spanish. Business wear is formal. Mexicans attach much importance to courtesy and the use of titles. Prior appointments are necessary and if in doubt about a correct title it is advisable to use licenciado in place of señor.

Best months for business visits are January to June and September to November. Avoid the two weeks before and after Christmas and Easter. Office hours: Vary considerably; usually 0900-1400 and 1500-1800 Monday to Friday. Commercial Information: The following organisation can offer advice: Confederacíon de Cámaras Nacionales de Comercio, Servicios y Turismo (CONCANACO), 3rd Floor, Balderas 144, Col. Centro, 06079 México DF (tel: (5) 709 1559; fax: (5) 709 1152).

CONFERENCES/CONVENTIONS: The meetings, conventions, exhibitions and incentives planner's kit issued by the Mexican Ministry of Tourism lists over 70 convention venues in Mexico City, Acapulco, Taxco, Morelia, Puerto Vallarta, Ixtapa, Guadalajara, Mazatlán, Cancún and Mérida. Taxco, Acapulco, Morelia and Cancún have dedicated centres, the largest of which, in Acapulco, can seat up to 8000 people.