<P> Mexico lies in between these two extremes as a newly industrialized country (NIC), and is a part of the North American Free Trade Agreement (NAFTA) and a member of the Organisation for Economic Co-operation and Development (OECD), being one of the only two Latin American members of this organisation (together with Chile). The United States is by far the largest economy in North America and the largest national economy in the world . </P> <P> The US, Canada and Mexico have significant and multifaceted economic systems . In 2011, the US has an estimated per capita gross domestic product (PPP) of $47,200, and is the most technologically developed economy in North America . The United States' services sector comprises 76.7% of the country's GDP (estimated in 2010), industry comprises 22.2% and agriculture comprises 1.2% . </P> <P> Canada's economic trends are similar to that of the United States, with significant growth in the sectors of services, mining and manufacturing . Canada's GDP (PPP) was estimated at $39,400 in 2010 . Canada's services sector comprises 78% of the country's GDP (estimated in 2010), industry comprises 20% and agriculture comprises 2% . </P> <P> Mexico has a GDP (PPP) of $15,312, and per capita income is estimated at approximately one - third of the United States' . The country has both modern and outdated industrial and agricultural facilities and operations, and is modernizing in sectors such as energy production, telecommunications and airports . </P>

Which was a characteristic of the north’s economy