Mexico’s gross domestic product shrank 4.3% year-on-year in the Q4 of 2020, below a preliminary estimate of 4.5% contraction and following an 8.6% slump in the prior period. The industrial sector shrank 3.1%, less than an 8.7% plunge in Q3, mainly due to softer declines in manufacturing (-0.4% vs -7.1%) and construction (-9.8% vs -17.5%). Also, services activities contracted 5%, after shrinking 8.9% in Q3, in particular wholesale trade (-0.8% vs -9.5%); retail (-1.9% vs -8.6%); transport & storage (-14.1% vs -24.3%); food & accommodation services (-40.9% vs -53.6%). The primary sector rose 4.8%, slowing from a 7.3% advance in the prior period. On a quarterly basis, the country’s economy expanded 3.3%, following an upwardly revised 12.4% growth in Q3 and slightly above an earlier estimate of a 3.1% rise. Mexico’s economy plunged 8.2% in 2020, slightly below a preliminary estimate of an 8.3% slump, but still marking its biggest annual contraction since the Great Depression in the 1930s. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Annual Growth Rate in Mexico averaged 1.99 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 February of 2021.
GDP Annual Growth Rate in Mexico is expected to be -2.00 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 4.60 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 2.20 percent in 2022 and 2.40 percent in 2023, according to our econometric models.