Veracruz has one of Mexico's leading economies, based on agriculture and petroleum. Using relatively recent night light data and electricity consumption in comparison with Gross County Product, the informal sector of the local economy in Veracruz state is shown to have grown. The assumption that the informal economy of Mexico is a constant 30% of total economic activity is not supported at the local level.
Agriculture, The state has abundant rainfall and extremely fertile soils, as well as a long coastline and forest containing a wide variety of trees and other plants. There is about 1 million hectares of cultivable land, half of which is in private hands and 43% is ejido or communal land. 52.5% of agricultural land is used for the growing of crops or used as pasture and 43.1% is forest or rainforest. Chief agricultural products include coffee, vanilla, sugarcane, tobacco, bananas, coconuts, and vegetables and beans.
Two corn crops per year are generally produced, planted on 644,936 hectares with a production of 1,114,325 tons. The state is the leading national producer of coffee, sugarcane, corn, and rice. Coffee is grown on 152,993 hectares producing 400,575 tons.
Livestock raising is an important activity. There are over 300,000 units of production most of which raise cattle, with Veracruz being the main beef producer for the country at 14% of the total. In addition to beef cattle, dairy cattle, pigs, sheep, goats, horses, domestic fowl, and bees are raised.
Veracruz's long coastline supports a large fishing industry, producing one-fifth of Mexico's catch. Most of the country's mojarra, oysters and shrimp come from here. Other major fish catches include crab, sea bass and red snapper.
The manufacturing industry in Veracruz accounts for between 21% and one-third of the state's gross domestic product, and approximately 64% of the manufacturing industry GDP is generated by the chemical and petrochemical sectors. Other products produced include metals, processed foods, beverages, printing and publishing, textiles and machinery.
Transportation and commerce are important factors in the state, mostly linked to importing and exporting through its four deepwater ports. The focus of most of these activities is the port of Veracruz. It has the most favored position on Mexico's Gulf coast and is extensively used for exports to the United States, Latin America and Europe.
GDP AGUASCALIENTES $52,361 million of USD.