Guanajuato - Economy

Economy

Being located in the center of the country has important economic implications for the state, as a number of major national highways and railways pass through. The state is also a center of industry with most of the state's major cities and economy located in the La Sierra Central and El Bajío regions. It has equal access to both the Pacific Ocean and Gulf of Mexico as well as the major metropolitan areas of Monterrey, Mexico City and Guadalajara. In 2008, the total GDP for the state was 38,204,000,000 USD (427,503,000,000 MXN) or 3.88% of the total for the country. From 2003 to 2008, the economy grew 1.06% (adjusted for inflation). The state has the sixth largest economy in Mexico behind Mexico City, the State of Mexico, Nuevo León, Jalisco, and Veracruz. As of 2008, Guanajuato ranks fourth in per capita income at 7,609USD, behind Mexico City, Nuevo León and Jalisco, with a rate of increase of 2.04%. Manufacturing accounts for 28% of total GDP, down slightly from a high of over 30%. Its importance is followed by commerce at 16.3% and real estate at 11.2%. Agriculture, which includes forestry, fishing and hunting accounts for 4.6. Other activities include financial and other professional services (17.6%) and transportation and storage at 11.8%. Employment figures break down differently with 13.2% employed in agriculture, 36.4% in mining and industry and 47.3 percent in commerce, services and tourism. There are two significant migration patterns in the state. Twenty seven of 46 municipalities have a high level of migration out to other areas, with 19 having a moderate to low level of the same. The annual rate of migration to the United States is 7.07 people per thousand.