Mexico's gross domestic product grew by 0.8 percent on quarter in the three months to March 2021, beating a preliminary estimate of 0.6 percent and following a downwardly revised 3.2 percent expansion in the previous period. It was the slowest pace of economic growth since a recovery began in the third quarter of 2020. The service sector growth slowed to 0.9 percent from 3.2 percent in Q4 2020 on the back of a resurgence in COVID cases and new lockdowns across the globe. In addition, industrial output advanced at a slower 0.5 percent (vs 3.6 percent in Q4) as the Texas freeze in February caused power shortages in the manufacturing hubs of northern and central Mexico. Agriculture activity, however, rebounded 0.7 percent (vs -2.1 percent in Q4). GDP in Latin America’s second-biggest economy plummeted by 8.3 percent last year, the biggest decline in about nine decades. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Growth Rate in Mexico averaged 0.53 percent from 1993 until 2021, reaching an all time high of 12.50 percent in the third quarter of 2020 and a record low of -16.90 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 July of 2021.

GDP Growth Rate in Mexico is expected to be 1.30 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 0.70 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 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
0.80 3.20 12.50 -16.90 1993 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-29 12:00 PM QoQ Prel Q4 3.1% 12.1% 2.8% 2.5%
2021-02-25 12:00 PM QoQ Final Q4 3.3% 12.4% 3.1% 3.1%
2021-04-30 11:00 AM QoQ Prel Q1 0.4% 3.3% 0.1% 0.1%
2021-05-26 11:00 AM QoQ Final Q1 0.8% 3.2% 0.6% 0.4%
2021-07-30 11:00 AM QoQ Prel Q2 0.8% 0.6%
2021-08-25 11:00 AM QoQ Final Q2 0.8%
2021-10-29 12:00 PM QoQ Prel Q3
2021-11-25 12:00 PM QoQ Final Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Mexico Q1 GDP Growth Revised Slightly Higher
Mexico's gross domestic product grew by 0.8 percent on quarter in the three months to March 2021, beating a preliminary estimate of 0.6 percent and following a downwardly revised 3.2 percent expansion in the previous period. It was the slowest pace of economic growth since a recovery began in the third quarter of 2020. The service sector growth slowed to 0.9 percent from 3.2 percent in Q4 2020 on the back of a resurgence in COVID cases and new lockdowns across the globe. In addition, industrial output advanced at a slower 0.5 percent (vs 3.6 percent in Q4) as the Texas freeze in February caused power shortages in the manufacturing hubs of northern and central Mexico. Agriculture activity, however, rebounded 0.7 percent (vs -2.1 percent in Q4). GDP in Latin America’s second-biggest economy plummeted by 8.3 percent last year, the biggest decline in about nine decades.
2021-05-26
Mexico Economy Barely Grows in Q1
The Mexican gross domestic product advanced 0.4 percent on quarter in the three months to March of 2021, slowing from a 3.3 percent growth in the previous period, although slightly above market expectations of a 0.1 percent growth, a preliminary estimate showed. It was the slowest pace of growth since a record slump in the second quarter of 2020, amid the worsening pandemic crisis and after unusually cold weather in the US, especially Texas, led to gas shortages in Mexico that forced temporary shutdowns of factories. Industrial activity stalled, following a 3.9 percent growth in the fourth quarter of 2020; and the services sector rose only 0.7 percent, after advancing 3.2 percent in the previous period. In addition, the primary sector contracted 1.3 percent, following a 2.4 percent decline in Q4. Year-on-year, the country's economy shrank 3.8 percent, following a 4.3 percent slump in the previous period and compared with market expectations of a 3.5 percent decline.
2021-04-30
Mexico Q4 GDP Growth Slows Less than Previously Thought
The Mexican economy advanced 3.3% on quarter in the three months to December of 2020, slightly above a preliminary reading of a 3.1% expansion and following an upwardly revised 12.4% growth. Industrial activity increased 3.9%, slowing from a 22.3% expansion in the prior quarter, namely manufacturing (3.9% vs 31.9% in Q3); construction (5.3% vs 22.7%); utilities (0.3% vs 5.2%) and mining (2% vs 2.8%). Also, the services sector advanced 3.2%, slower than a 9% growth in Q3, of which retail trade (5.2% vs 30.6%); wholesale trade (6.1% vs 15.5%); transport & storage (10.3% vs 23.4%) and accommodation & services (24.5% vs 59.7%). In addition, the primary sector shrank 2.4%, after a 7.6% expansion in Q3. Year-on-year, the country's economy shrank 4.3%, below a preliminary estimate of 4.5% contraction and following an 8.6% slump in the previous period.
2021-02-25
Mexico GDP Growth Slows in Q4
The Mexican economy advanced 3.1 percent on quarter in the three months to December of 2020, slowing from a 12.1 percent growth in the previous period and beating market estimates of a 2.8 percent rise, a preliminary estimate showed. Industrial activity expanded 3.3 percent, decelerating from a 22 percent growth in the third quarter of the year; and the services sector rose 3 percent, after advancing 8.8 percent in the previous period. In addition, the primary sector contracted 2.6 percent, after expanding 8 percent in the prior period. Year-on-year, the country's economy shrank 4.5 percent, following an 8.6 percent slump in the previous period and compared with market expectations of a 5.5 percent decline.
2021-01-29

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).