Markets Actual Q4 Q1 Q2 Q3 2021
Currency 20.02 20.19 20.34 20.48 20.63 20.92
Stock Market (points) 42807.11 41320 40395 39490 38607 36840
Government Bond 10Y (%) 5.60 5.68 5.74 5.8 5.86 5.98

Overview Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 12.00 0.9 1.5 1.3 1.1 1.1
GDP Annual Growth Rate (%) -8.60 -6.5 -2 10 8 4.6
Unemployment Rate (%) 4.70 5.4 5.2 5 4.9 4.7
Inflation Rate (%) 4.09 4.1 3.9 3.7 3.5 3.6
Inflation Rate Mom (%) 0.61 0.5 0.3 0.2 0.2 0.4
Interest Rate (%) 4.25 4 4 4 4 4
Balance of Trade (USD Million) 4384.72 1000 1500 1300 -800 1000
Current Account (USD Million) 4.80 1000 -1500 -2800 -3100 -4500
Current Account to GDP (%) -0.20 -0.8 -1.4 -1.4 -1.4 -1.4
Government Debt to GDP (%) 45.50 57 58 58 58 58
Government Budget (% of GDP) -1.60 -4.5 -4 -4 -4 -4
Business Confidence (points) 41.50 41 43 46 48 49
Manufacturing PMI (points) 43.60 44.3 46 48 49 49.5
Consumer Confidence (points) 37.60 36 35.7 36 37 38
Retail Sales MoM (%) 2.50 0.7 0.3 0.5 0.7 0.5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2021
GDP Growth Rate (%) 12.00 0.9 1.5 1.3 1.1 1.1
GDP Annual Growth Rate (%) -8.60 -6.5 -2 10 8 4.6
GDP (USD Billion) 1200.00 1075 1113 1113 1113 1113
GDP Constant Prices (MXN Million) 15055411.00 17170707 17787709 16560952 16259844 17960560
Gross Fixed Capital Formation (MXN Million) 2367887.00 3221189 3303516 2604676 2557318 3369364
GDP per capita (USD) 10275.63 9800 10080 10080 10080 10080
GDP per capita PPP (USD) 19746.44 18900 19500 19500 19500 19500
GDP From Agriculture (MXN Million) 603495.86 656635 568208 663845 651776 686840
GDP From Construction (MXN Million) 802342.00 1118462 1160901 882576 866529 1169911
GDP From Manufacturing (MXN Million) 2098039.00 2684586 2807906 2307843 2265882 2808077
GDP From Mining (MXN Million) 797368.00 794767 881087 877105 861157 831326
GDP From Public Administration (MXN Million) 731861.62 677459 732553 805048 790411 708623
GDP From Services (MXN Million) 9816653.99 11287323 11180938 10798319 10601986 11806540
GDP From Transport (MXN Million) 741005.00 1131951 1133390 815106 800285 1184021
GDP From Utilities (MXN Million) 266301.00 276307 262643 292931 287605 289018

Labour Actual Q4 Q1 Q2 Q3 2021
Unemployment Rate (%) 4.70 5.4 5.2 5 4.9 4.7
Employed Persons 51011033.00 54500000 54700000 54900000 55100000 55300000
Unemployed Persons 2769491.00 2280000 2260000 2240000 2220000 22000000
Labor Force Participation Rate (%) 57.40 57.7 58 58.4 58.8 59.1
Productivity (points) 94.50 89.6 89.9 90.1 90.5 91.5
Wages (MXN/Day) 401.84 401 404 404 407 408
Wages in Manufacturing (USD/Hour) 2.50 2.4 2.6 2.6 2.7 3.2
Minimum Wages (MXN/Day) 123.22 123 143 143 143 143
Population (Million) 126.58 128 128 128 128 129
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 95.30 95.7 96 96.3 96.6 96.9

Prices Actual Q4 Q1 Q2 Q3 2021
Inflation Rate (%) 4.09 4.1 3.9 3.7 3.5 3.6
Inflation Rate Mom (%) 0.61 0.5 0.3 0.2 0.2 0.4
Consumer Price Index CPI (points) 108.77 110 111 111 112 114
Core Consumer Prices (points) 108.73 109 110 111 112 113
Core Inflation Rate (%) 4.00 3.6 3.5 3.4 3.3 3.2
Producer Prices (points) 104.55 104 107 108 108 108
Export Prices (points) 108.20 110 112 112 114 115
Import Prices (points) 230.84 230 231 231 231 232
Inflation Expectations (Percent) 3.54 3.4 3.4 3.3 3.3 3.3
Producer Prices Change (%) 4.90 4.6 4.3 4 3.7 3.5
CPI Transportation (points) 104.49 110 106 105 108 114
Food Inflation (%) 8.09 6.5 6.3 6.1 5.9 5.7

Money Actual Q4 Q1 Q2 Q3 2021
Interest Rate (%) 4.25 4 4 4 4 4
Interbank Rate (%) 4.53 4.53 4.53 4.53 4.53 4.53
Foreign Exchange Reserves (USD Million) 199816.00 196000 194000 192000 193200 194000
Banks Balance Sheet (MXN Million) 9024693.00 9190000 9250000 9210000 9180000 9100000
Deposit Interest Rate (%) 0.82 1.02 1.02 1.02 1.02 1.02
Central Bank Balance Sheet (MXN Thousand) 4724909655.00 5060000000 5040000000 5000000000 4870000000 4700000000

Trade Actual Q4 Q1 Q2 Q3 2021
Balance of Trade (USD Million) 4384.72 1000 1500 1300 -800 1000
Current Account (USD Million) 4.80 1000 -1500 -2800 -3100 -4500
Current Account to GDP (%) -0.20 -0.8 -1.4 -1.4 -1.4 -1.4
Imports (USD Million) 34163.00 33800 37500 36700 38400 35500
Exports (USD Million) 38547.00 37500 39000 38000 37600 38000
External Debt (USD Million) 446898.10 458000 460000 463000 4650000 468000
Foreign Direct Investment (USD Million) 6595.80 6850 6870 6920 6950 6950
Remittances (USD Million ) 10674.57 9300 9100 9400 9500 9300
Tourism Revenues (USD Thousand) 611571.87 830000 1150000 1230000 1320000 1600000
Tourist Arrivals (Thousand) 606.09 800 950 1100 1300 1830
Gold Reserves (Tonnes) 120.00 120 120 120 120 120
Capital Flows (USD Million) -5.50 -30 -30 -25 -19 -20
Auto Exports (Thousand Units) 280.47 275 290 310 320 310

Government Actual Q4 Q1 Q2 Q3 2021
Government Debt to GDP (%) 45.50 57 58 58 58 58
Government Budget (% of GDP) -1.60 -4.5 -4 -4 -4 -4
Government Budget Value (MXN Million) -33.42 -155000 -160000 -168000 -173000 -180000
Government Spending (MXN Million) 2244473.00 2063202 2216472 2468920 2424031 2158109
Government Revenues (MXN Million) 380863.40 360000 357000 365000 384000 391000
Fiscal Expenditure (MXN Million) 427809.40 520000 517000 515000 513000 512000
Military Expenditure (USD Million) 6375.00 7000 7000 7000 7000 6900

Taxes Actual Q4 Q1 Q2 Q3 2021
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 9.23 9.23 9.23 9.23 9.23 9.23
Social Security Rate For Companies (%) 7.58 7.56 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.5 1.65 1.65 1.65 1.65

Business Actual Q4 Q1 Q2 Q3 2021
Business Confidence (points) 41.50 41 43 46 48 49
Manufacturing PMI (points) 43.60 44.3 46 48 49 49.5
Industrial Production (%) -6.20 -2.5 -1 15 2.9 2.5
Industrial Production Mom (%) 0.00 0.2 0.3 0.3 0.2 0.3
Manufacturing Production (%) -3.11 -1.7 1.9 15.5 2.1 2.2
Capacity Utilization (%) 75.50 75 77 79 80 80.9
Total Vehicle Sales 43223.00 50000 58000 61000 63000 70000
Car Production (Thousand Units) 347.83 300 310 330 340 360
Car Registrations 43223.00 65000 70000 75000 80000 82000
Leading Economic Index (%) -9.40 -5.5 -1.5 7.5 3.5 1.6
Private Investment (%) -17.40 -12 -5 -2.5 -1.5 0.5
Mining Production (%) -2.82 -2.5 -1.5 2.5 2 1.5

Consumer Actual Q4 Q1 Q2 Q3 2021
Consumer Confidence (points) 37.60 36 35.7 36 37 38
Retail Sales MoM (%) 2.50 0.7 0.3 0.5 0.7 0.5
Retail Sales YoY (%) -10.80 -4 0.3 13 5 2.4
Consumer Spending (MXN Million) 9790598.00 11977386 11903263 10769658 10573846 12528346
Personal Savings (%) 21.20 20 21 21 21 21
Consumer Credit (MXN Million) 1313718.80 1302753 1345461 1445091 1418816 1362680
Households Debt To GDP (% of GDP) 16.40 16.7 16.5 16.3 16.1 16.3
Gasoline Prices (USD/Liter) 0.85 0.93 0.76 0.72 0.68 0.89

Housing Actual Q4 Q1 Q2 Q3 2021
Construction Output (%) -16.12 -11 -8 -6.5 -3.5 -1.5


This page has economic forecasts for Mexico including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Mexico economy.