The Mexican GDP grew by 3.7% year-on-year in the first quarter of 2023, below the 3.9% growth expected by the market and projected by preliminary data. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Annual Growth Rate in Mexico averaged 2.16 percent from 1994 until 2023, reaching an all time high of 19.60 percent in the second quarter of 2021 and a record low of -18.60 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 June of 2023.

GDP Annual Growth Rate in Mexico is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 1.60 percent in 2024 and 1.80 percent in 2025, according to our econometric models.

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Mexico GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-04-28 12:00 PM YoY Prel Q1 3.9% 3.6% 3.3% 2.9%
2023-05-26 12:00 PM YoY Final Q1 3.7% 3.9% 3.9% 3.9%
2023-07-31 11:00 AM YoY Prel Q2 3.7% 3.4%


Related Last Previous Unit Reference
GDP Growth Rate 1.00 0.50 percent Mar 2023
GDP Annual Growth Rate 3.70 3.60 percent Mar 2023
GDP Constant Prices 18761767.00 18560365.00 MXN Million Mar 2023
Gross Fixed Capital Formation 3542637.00 3425192.00 MXN Million Dec 2022
Full Year GDP Growth 3.10 5.00 percent Dec 2022
GDP from Utilities 219879.00 225891.00 MXN Million Mar 2023
GDP from Transport 1226188.00 1263985.00 MXN Million Mar 2023
GDP from Services 11705515.57 12032649.45 MXN Million Mar 2023
GDP from Public Administration 691072.95 724717.01 MXN Million Mar 2023
GDP from Mining 908018.00 843575.00 MXN Million Mar 2023
GDP from Manufacturing 3079414.00 3051297.00 MXN Million Mar 2023
GDP from Construction 1125684.00 1126137.00 MXN Million Mar 2023
GDP from Agriculture 579418.06 778996.90 MXN Million Mar 2023

Mexico GDP Annual Growth Rate
Mexico is the second largest economy in Latin America. The country has an export-oriented economy: more than 90 percent of trade is under free trade agreements. 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).
Actual Previous Highest Lowest Dates Unit Frequency
3.70 3.60 19.60 -18.60 1994 - 2023 percent Quarterly
NSA

News Stream
Mexico Economic Grows 3.6% in Q4
Mexico’s gross domestic product expanded 3.6 percent from a year earlier in the fourth quarter of 2022, slightly above preliminary estimates of a 0.4 percent gain and easing from a revised 4.4 percent increase in the previous period. Output grew at a faster pace in the primary sector (6.3 percent vs. 3.3 percent in Q3) while slowing for manufacturing (3.2 percent vs. 3.5 percent) and services (3.5 percent vs. 4.7 percent). The Mexican economy rose by 0.5 percent quarterly, following a revised 0.9 percent gain in the previous quarter. In 2022, growth reached 3.1 percent, also slowing down from the 5 percent advance recorded in 2021.
2023-02-24
Mexico Economic Grows 3.5% in Q4
Mexico’s gross domestic product expanded 3.5 percent from a year earlier in the fourth quarter of 2022, easing from a 4.3 percent increase in the previous period and mostly in line with market expectations, first estimates showed. Output grew at a faster pace in the primary sector (6.6 percent vs. 3.6 percent in Q3) while slowing for manufacturing (3.0 percent vs. 3.5 percent) and services (3.4 percent vs. 4.5 percent). The Mexican economy rose by 0.4 percent quarterly, following a revised 1.0 percent gain in the previous quarter. In 2022, growth reached 3.0 percent, also slowing down from the 5 percent advance recorded in 2021.
2023-01-31
Mexico Economic Grows 4.3% in Q3
Mexico’s gross domestic product expanded 4.3 percent from a year earlier in the third quarter of 2022, accelerating from a revised 2.4 percent increase in the previous period and above preliminary estimates of 4.2 percent. Output grew at a faster pace in the primary sector (3.6 percent vs. 1.0 percent in Q2), manufacturing (3.5 percent vs. 3.3 percent), and services (4.5 percent vs. 1.8 percent). The Mexican economy rose by 0.9 percent quarterly, following a revised 1.1 percent gain in the previous quarter.
2022-11-25