Mexico is a federal republic in North America. It borders the United States to the north, the Pacific Ocean to the south and west, the Caribbean Sea to the southeast, Belize and Guatemala to the east, and the Gulf of Mexico to the east. It covers an area of 1964,375 square kilometers, making it the fifth-largest country in the Americas and the fourteenth largest country in the world by area. With a population of 123 million (2017), it is the eleventh most populous country in the world and the second-most populous country in Latin America. Mexico is a free-market economy, with modern industry and agriculture, and the proportion of the private economy has increased significantly. After the formal establishment of the North American Free Trade Area in 1994, Mexico’s trade and investment exchanges with the United States increased rapidly, greatly promoting economic development and increasing national income.
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