The gross domestic product in Mexico declined 0.2 percent on quarter in the three months to March 2019, in line with the preliminary figure and after showing no growth in the prior quarter. Services and industry shrank while the primary sector lost steam. GDP Growth Rate in Mexico averaged 0.60 percent from 1993 until 2019, reaching an all time high of 3.20 percent in the third quarter of 2009 and a record low of -5.70 percent in the first quarter of 1995.

GDP Growth Rate in Mexico is expected to be 0.40 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 0.80 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 0.90 percent in 2020, according to our econometric models.

Mexico GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-30 02:00 PM GDP Growth Rate QoQ Prel 0.3% 0.8% 0.3% 0.7%
2019-02-25 02:00 PM GDP Growth Rate QoQ Final 0.2% 0.6% 0.2% 0.3%
2019-04-30 01:00 PM GDP Growth Rate QoQ Prel -0.2% 0.2% 0.6%
2019-05-24 01:00 PM GDP Growth Rate QoQ Final -0.2% 0.0% 0.2% -0.2%
2019-07-31 11:00 AM GDP Growth Rate QoQ Prel -0.2% 0.4%
2019-08-23 11:00 AM GDP Growth Rate QoQ Final -0.2% 0.4%
2019-10-30 12:00 PM GDP Growth Rate QoQ Prel



Mexico Economy Shrinks 0.2% QoQ in Q1

The gross domestic product in Mexico declined 0.2 percent on quarter in the three months to March 2019, in line with the preliminary figure and after showing no growth in the prior quarter. Services and industry shrank and the primary sector lost steam.

The industrial sector fell 0.6 percent, matching an earlier estimate and compared with an upwardly revised 1.3 percent contraction in the fourth quarter of 2018. Output decreased in mining (-1.4 percent vs -4 percent); utilities (-1.3 percent vs -1.6 percent) and manufacturing (-0.4 percent, the same pace as in Q4) while it rebounded for construction (0.8 percent vs -1.4 percent).

Services shrank 0.2 percent, in line with the initial figure and compared to a downwardly revised 0.4 percent growth in the previous quarter. Contractions were seen in wholesale trade (-1.9 percent vs 0.5 percent); transport & storage (-0.7 percent vs -0.2 percent); information & communication (-5.4 percent vs 2.7 percent); corporate services (-2.2 percent vs -2.1 percent); education (-0.2 percent vs 0.6 percent); cultural and sports activities (-2 percent vs -1.7 percent) and food & accomodation services (-0.7 percent vs -0.2 percent). Also, growth slowed in retail trade (0.7 percent vs 0.9 percent) and it stalled for finance & insurance (vs 0.9 percent in Q4). In contrast, professional, scientific and technical services (2.7 percent vs 1.0 percent) and business services (2.6 percent vs 0.6 percent) advanced much faster.

In contrast, the primary sector expanded 2.6 percent, matching the preliminary reading, but easing from an upwardly revised 2.8 percent rise in the previous quarter.

Year-on-year, the GDP grew 1.2 percent, below an earlier figure of 1.3 percent and 1.7 percent in the previous quarter. It was the weakest growth rate since Q1 2018.


INEGI | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/24/2019 2:31:13 PM



Mexico GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.20 0.00 3.20 -5.70 percent [+]
GDP Annual Growth Rate 1.20 1.70 9.00 -9.10 percent [+]
GDP 1223.81 1158.07 1314.56 13.04 USD Billion [+]
GDP Constant Prices 18552607.00 18584926.00 18584926.00 9736295.00 MXN Million [+]
Gross Fixed Capital Formation 3693570.00 3668385.00 3838433.00 1475417.00 MXN Million [+]
GDP per capita 10385.30 10297.59 10385.30 3907.49 USD [+]
GDP per capita PPP 18101.90 17949.02 18101.90 13452.23 USD [+]
GDP From Agriculture 590490.29 712278.12 712278.12 326544.91 MXN Million [+]
GDP From Construction 1284077.00 1306139.00 1349535.00 616361.00 MXN Million [+]
GDP From Manufacturing 2918815.00 2940369.00 2967936.00 1579762.00 MXN Million [+]
GDP From Mining 862095.00 848112.00 1339290.00 848112.00 MXN Million [+]
GDP From Public Administration 686777.73 716017.67 747616.63 552862.50 MXN Million [+]
GDP From Services 11536484.18 12148761.14 12148761.14 5606905.89 MXN Million [+]
GDP From Transport 1180004.00 1222308.00 1222308.00 557632.00 MXN Million [+]
GDP From Utilities 250530.00 268312.00 295361.00 93738.00 MXN Million [+]


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). This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-0.20 0.00 3.20 -5.70 1993 - 2019 percent Quarterly
SA




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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