Mexico’s gross domestic product shrank 3.8 percent year-on-year in the first quarter of 2021, following a 4.3 percent slump in the previous period and worse than market expectations of a 3.5 percent decline, a preliminary estimate showed. It was the sixth consecutive quarter of economic downturn, amid the twin impact of the coronavirus pandemic and energy shortages in February. The industrial sector contracted 3 percent, after a 3.1 percent slump in the fourth quarter; and the services sector shrank 4.2 percent, following a 5 percent decline in the previous period. Meanwhile, the primary sector rose 2.8 percent, slowing from a 4.8 percent advance in the prior period. On a quarterly basis, the Mexican GDP grew a meagre 0.4 percent, decelerating sharply from a 3.3 percent growth in the previous quarter but beating market consensus of a 0.1 percent rise. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Annual Growth Rate in Mexico averaged 1.93 percent from 1994 until 2021, 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 May of 2021.
GDP Annual Growth Rate in Mexico is expected to be 15.00 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 4.80 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 2.70 percent in 2022 and 2.40 percent in 2023, according to our econometric models.