The economy of Arandas is centred around the production of goods and services, particularly the production of agricultural goods. Arandas has had unprecedented
macroeconomic stability, with one of the highest
per capita incomes of Jalisco municipalities, especially with the
Los Altos Region. The International sales of Arandas in 2020 totalled US$4.41M, -0.37% less than the previous year. According to data from the
Economic Census 2019, the
economic sectors that concentrated the most economic units in Arandas were
Retail Trade (1,991 units), Other Services except Government Activities (662 units), and Temporary Accommodation and Food Preparation and Drinks (507 units).
Main imports and exports The products with the highest level of international sales in 2020 were Plastics Articles for the Conveyance or Packing of Goods (US$3.71M), Containers of Glass of a Kind Used for the Conveyance or Packing of Goods (US$590k), and Boxes, Sacks, Bags and other Paper Packaging (US$66.9k). International purchases of Arandas in 2020 were US$2.45M, -81.8% less than the previous year. The products with the highest level of international purchases in 2020 were Machinery and Apparatus for Soldering, Brazing, Welding, Gas-Operated Surface Tempering Machines and Appliances (US$694k), Machinery and Mechanical Appliances Having Individual Functions, not Specified Elsewhere (US$472k), and Labels of all Kinds, Paper or Paperboard, whether or not Printed (US$302k). As of June 2021, the annual international sales of Arandas totalled US$19.2M and the international purchases totalled US$4.96M, a balance of US$14.24M.
International sales destinations and purchases The main international sales destinations in 2020 were the
United States (US$4.24M),
Nicaragua (US$127k), and
El Salvador (US$27.5k) while the main countries of origin of international purchases in 2020 were
China (US$921k),
Belgium (US$618k), and the
United States (US$568k).
Foreign direct investment Jalisco, particularly the
Los Altos de Jalisco subregion (which includes Arandas), has received a lot of
Foreign Direct Investment in the 21st century. In the period January to June 2021, FDI in Jalisco reached US$875M, distributed in reinvestment of earnings (US$542M), inter-company debts (US$202M), and
equity capital (US$131M). From January 1999 and June 2021, Jalisco accumulates a total of US$625B in FDI, distributed in equity capital (US$15.4B), reinvestment of earnings (US$10.3B), and inter-company debts (US$8.85B). From January to June de 2021, the main origin countries of FDI in Jalisco were
United States (US$301M),
United Kingdom (US$209M), and
Canada (US$90.2M). Between January 1999 and June 2021, the countries that have contributed the most to FDI are the United States (US$17.6B),
Germany (US$2.98B), and
Spain (US$2.9B).
Poverty In 2015, 38.9% of the population was in a situation of
moderate poverty and 2.94% in
extreme poverty. The vulnerable population due to
social deprivation reached 36.8%, while the vulnerable population by income was 5.82%.
Poverty rates in Arandas have decreased substantially since 2010 but economic challenges still persist for many inhabitants. The main social deficiencies of Arandas in 2015 were deprivation of
social security,
educational backwardness and deprivation of
health services. In 2020, 0.73% (592 people) of the population in Arandas had no access to
sewage systems, 0.96% (776 people) did not have a
water supply network, 0.64% (514 people) did not have a bathroom and 0.33% (266 people) did not have
electricity. These figures have greatly reduced since 2000, due to
economic growth,
government spending by the
Jalisco state governments of
Francisco Javier Ramírez Acuña,
Gerardo Octavio Solís Gómez,
Emilio González Márquez,
Aristóteles Sandoval and
Enrique Alfaro Ramírez.
Labour In the second quarter of 2021, the average
labour participation rate in Jalisco and Arandas was 61.8%, which implied an increase of 1.15
percentage points compared to the previous quarter (60.6%).
The unemployment rate was 3.36%, which implied a decrease of 0.36 percentage points compared to the previous quarter (3.72%). Aranda's rate of labour participation is 2.8% higher than the Mexican average, which as of the second quarter of 2021 is 59%. There exists a large discrepancy between male and female labour rates in Arandas and Jalisco, which is characteristic for
Mexican states and cities. As of 2021, the labour participation rate for males is 78.7% and the rate for women is 46.5%. The unemployment rate for men in Arandas is 3.31% compared to 3.44% for women. The average monthly salary in the second quarter of 2021 was $5.48k MX, $459 MX lower than the previous quarter ($5.94k MX). The average monthly salary for formal labour was $6.13k MX and for informal labour was $4.76k MX. 52.4% of the workforce is
formally employed while 47.6% are
informally employed, with men earning an average of $6.06k MX per month and the average women making $4.65k MX. In Jalisco, 10% of the lowest-income households (first decile) had an average quarterly income of $15k MX in 2020, while the 10% of households with the highest income (tenth decile) had an average quarterly income of $159k MX in the same period. The occupations with the most workers during the second quarter of 2021 were Sales Employees, Dispatchers and Dependent on Trade, Traders in Stores, and Bricklayers, Stonemasons and Related. ==Quality of life==