Mexico’s gross domestic product shrank 8.6 percent year-on-year in the third quarter of 2020, following a record 18.7 percent plunge in the previous period and compared with market expectations of an 8.7 percent drop, amid the easing of coronavirus lockdown restrictions. The industrial sector contracted 8.8 percent, less than a 25.7 percent slump in the second quarter of the year; and services activities shrank 8.8 percent, after declining 16.2 percent. In addition, the primary sector fell 8.6 percent, following an 18.7 percent contraction in the prior period. On a quarterly basis, the country’s economy grew 12 percent, the most since series began, rebounding from a record 17.1 percent plunge in the second quarter of the year and beating market forecasts of an 11.9 percent expansion. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Annual Growth Rate in Mexico averaged 2.04 percent from 1994 until 2020, reaching an all time high of 9 percent in the fourth quarter of 1996 and a record low of -18.70 percent in the second quarter of 2020. This page provides - Mexico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
GDP Annual Growth Rate in Mexico is expected to be -6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Mexico to stand at 8.00 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 4.60 percent in 2021 and 2.20 percent in 2022, according to our econometric models.