The Mexican economy shrank 17.1% on quarter in the three months to June 2020, below a preliminary reading of a 17.3% plunge and after a 1.2% fall in the previous period. It was the steepest contraction on record, amid lockdowns restrictions due to the coronavirus pandemic. Industrial activity tumbled 23.4%, after dropping 1.1% in the prior quarter, namely manufacturing (-26.4% vs -1.8%), construction (-31% vs -0.4%) and mining (-9.4% vs 2.5%). In addition, the services sector contracted 15.1%, faster than a 0.9% fall, in particular retail trade (-27.5% vs -2.1%), wholesale trade (-18% vs -1.6%), culture, recreation and sports services (-72.8% vs -14.1%), hotels & restaurants (-67.5% vs -11%) and transport & storage (-36.7% vs -2.3%). Also, the primary sector shrank 2 percent, after expanding 0.8 percent in the first three months of the year. Year-on-year, the country’s gross domestic product plunged 18.7%, the most on record, following a downwardly revised 1.3% drop in Q1. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Growth Rate in Mexico averaged 0.39 percent from 1993 until 2020, reaching an all time high of 3.20 percent in the third quarter of 2009 and a record low of -17.10 percent in the second quarter of 2020. This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.

GDP Growth Rate in Mexico is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Mexico to stand at 1.30 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.80 percent in 2022, according to our econometric models.

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Mexico GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-17.10 -1.20 3.20 -17.10 1993 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-30 11:00 AM QoQ Prel Q1 -1.6% -0.1% -2.1% -1.6%
2020-05-26 11:00 AM QoQ Final Q1 -1.2% -0.6% -1.6%
2020-07-30 11:00 AM QoQ Prel Q2 -17.3% -1.2% -17.8% -18%
2020-08-26 11:00 AM QoQ Final Q2 -17.1% -1.2% -17.3%
2020-10-30 12:00 PM QoQ Prel Q3 -17.1% 8%
2020-11-25 12:00 PM QoQ Final Q3 -17.1% 8%


News Stream
Mexican Economy Shrinks the Most on Record
The Mexican economy shrank 17.1% on quarter in the three months to June 2020, below a preliminary reading of a 17.3% plunge and after a 1.2% fall in the previous period. It was the steepest contraction on record, amid lockdowns restrictions due to the coronavirus pandemic. Industrial activity tumbled 23.4%, after dropping 1.1% in the prior quarter, namely manufacturing (-26.4% vs -1.8%), construction (-31% vs -0.4%) and mining (-9.4% vs 2.5%). In addition, the services sector contracted 15.1%, faster than a 0.9% fall, in particular retail trade (-27.5% vs -2.1%), wholesale trade (-18% vs -1.6%), culture, recreation and sports services (-72.8% vs -14.1%), hotels & restaurants (-67.5% vs -11%) and transport & storage (-36.7% vs -2.3%). Also, the primary sector shrank 2 percent, after expanding 0.8 percent in the first three months of the year. Year-on-year, the country’s gross domestic product plunged 18.7%, the most on record, following a downwardly revised 1.3% drop in Q1.
2020-08-26
Mexican Economy Contracts the Most on Record
The Mexican economy shrank 17.3 percent on quarter in the three months to June 2020, following a 1.2 percent contraction in the previous period and compared with market forecasts of a 17.8 percent plunge, a preliminary estimate showed. It was the steepest contraction on record, amid lockdowns restrictions due to the coronavirus pandemic. Industrial activity plunged 23.6 percent, after dropping 1.2 percent in the prior quarter; and the services sector contracted 14.5 percent, faster than a 0.9 percent fall. Additionally, the primary sector shrank 2.5 percent, after expanding 1.7 percent in the first three months of the year. Year-on-year, the country’s gross domestic product slumped 18.9 percent, the most on record, following a 1.4 percent contraction in Q1 and compared with market consensus of a 19.2 percent plunge.
2020-07-30
Mexico Q1 GDP Shrinks the Most since 2009
Mexico’s gross domestic product contracted 1.4 percent on quarter in the three months to March 2020, below a preliminary reading of a 1.6 percent decline and after shrinking an upwardly revised 0.6 percent in the prior period. It was the steepest contraction since Q1 2009, amid the coronavirus crisis. The services sector shrank 0.9%, faster than a 0.3% contraction in the prior quarter, namely retail trade (-2.2% vs 0.3%), culture, recreation and sports services (-14.1% vs -0.9%), hotels & restaurants (-11% vs 2%), information & communication (-1.2% vs 1.6%), transport & storage (-2% vs -1.7%), and health & social services (-1.3% vs -0.2%). Industrial activity contracted 1.2%, after a 1.5% fall in Q4 2019, of which manufacturing (-1.9% vs -2.6%), construction (-0.3% vs -1.8%) and utilities (-2.8% vs 0.6%). Meantime, the primary sector expanded 1.7%, rebounding from a 0.1% contraction. Year-on-year, the economy shrank 1.4 percent, after declining 0.7 percent in the prior period.
2020-05-26
Mexico Q1 GDP Contracts the Most in 11 Years
Mexico’s gross domestic product contracted 1.6 percent on quarter in the three months to March 2020, after shrinking 0.1 percent in the previous period and compared with market consensus of a 2.1 percent decline, a preliminary estimate showed. It was the steepest contraction since the first quarter of 2009, amid the coronavirus crisis. Industrial activity shrank 1.4 percent, after growing 0.2 percent in the last quarter of 2019; and the services sector contracted 1.4 percent, faster than a 1.2 percent decline. In contrast, the primary sector expanded 0.5 percent, recovering from a 1.1 percent contraction in the prior period. Year-on-year, the economy shrank 1.6 percent, following a 0.5 percent contraction in Q4.
2020-04-30

Mexico GDP Growth Rate
In Mexico, services account for 62 percent of total GDP. The biggest segments within services are: wholesale and retail trade (16 percent); real estate (10 percent); transport, warehousing and communications (7 percent) and financial services and insurance (6 percent). Industry constitutes 18 percent of output and the largest segments within this sector are: automobile industry (4 percent of total GDP) and food industry (3.8 percent). The remaining share is divided by: construction, water, gas and electricity distribution (8 percent), mining (5 percent), government (4 percent ) and agriculture, forestry, fishing and hunting (3 percent).