Economy
The two most important economic activities in the borough are manufacturing and commerce. Sixty-three percent of all business establishments are dedicated to commerce, which employ 42% of the people and accounts for 45% of the borough’s GDP. Commerce and services together employ 63.3% of the population. Twenty-four percent of this commerce is wholesale, much of which is tied to the Central de Abasto and the La Nueva Viga markets. However, wholesale businesses have declined 2.8% while retail establishment have increased 8.1%. This has a positive effect on employment, but this activity adds less to the GDP. The largest sector of retail sales is in street markets called tianguis, followed by public markets, street peddlers and lastly through the Central de Abasto.
A total of 32.5% is employed in industry, minerals and construction. Industry includes food processing, bottling, tobacco products, metals, machinery, surgical equipment, paper and printing and textiles. Only 0.3% is now employed in agriculture or livestock.
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Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
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—Henry David Thoreau (1817–1862)