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Background The site of advanced Amerindian civilizations, Mexico came under Spanish rule for three centuries before achieving independence early in the 19th century. A devaluation of the peso in late 1994 threw Mexico into economic turmoil, triggering the worst recession in over half a century. The nation had been making an impressive recovery until the global financial crisis hit in late 2008. Ongoing economic and social concerns include low real wages, underemployment for a large segment of the population, inequitable income distribution, and few advancement opportunities for the largely Amerindian population in the impoverished southern states. The elections held in 2000 marked the first time since the 1910 Mexican Revolution that an opposition candidate - Vicente FOX of the National Action Party (PAN) - defeated the party in government, the Institutional Revolutionary Party (PRI). He was succeeded in 2006 by another PAN candidate Felipe CALDERON. In January 2009, Mexico assumed a nonpermanent seat on the UN Security Council for the 2009-10 term. Population 112,468,855 (July 2010 est.) Government type 31 states (estados, singular - estado) and 1 federal district* (distrito federal); Aguascalientes, Baja California, Baja California Sur, Campeche, Chiapas, Chihuahua, Coahuila de Zaragoza, Colima, Distrito Federal*, Durango, Guanajuato, Guerrero, Hidalgo, Jalisco, Mexico, Michoacan de Ocampo, Morelos, Nayarit, Nuevo Leon, Oaxaca, Puebla, Queretaro de Arteaga, Quintana Roo, San Luis Potosi, Sinaloa, Sonora, Tabasco, Tamaulipas, Tlaxcala, Veracruz-Llave, Yucatan, Zacatecas Administrative divisions federal republic Independence Independence Day, 16 September (1810) International organization participation three equal vertical bands of green (hoist side), white, and red; the coat of arms (an eagle with a snake in its beak perched on a cactus) is centered in the white band Economy - overview Market value of publicly traded shares food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism Agriculture - products -7.3% (2009 est.) Industries 245 billion kWh (2008 est.) Industrial production growth rate 181.5 billion kWh (2009 est.) Electricity - production 1.288 billion kWh (2008 est.) Internet country code 23.26 million (2008) WebCam