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.

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Mexico GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-3.80 -4.30 9.00 -18.70 1994 - 2021 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-11-26 12:00 PM YoY Final Q3 -8.6% -18.7% -8.6% -8.6%
2021-01-29 12:00 PM YoY Prel Q4 -4.5% -8.6% -5.5% -6%
2021-02-25 12:00 PM YoY Final Q4 -4.3% -8.6% -4.5% -4.5%
2021-04-30 11:00 AM YoY Prel Q1 -3.8% -4.3% -3.5% -3.2%
2021-05-26 11:00 AM YoY Final Q1 -4.3% -3.8%
2021-07-30 11:00 AM YoY Prel Q2
2021-08-25 11:00 AM YoY Final Q2
2021-10-29 12:00 PM YoY Prel Q3


News Stream
Mexico GDP Shrinks More than Expected in Q1
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.
2021-04-30
Mexico GDP Contracts Less Than Initially Thought in Q4
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.
2021-02-25
Mexico Economy Shrinks Less than Expected in Q4
Mexico’s gross domestic product shrank 4.5 percent year-on-year in the fourth quarter of 2020, following an 8.6 percent slump in the previous period and compared with market expectations of a 5.5 percent decline, a preliminary estimate showed. The industrial sector contracted 3.3 percent, less than a 8.8 percent slump in the third quarter; and the services sector shrank 5.1 percent, after declining 8.8 percent. Meanwhile, the primary sector rose 4.8 percent, slowing from a 7.7 percent advance in the prior period. On a quarterly basis, the country's economy grew 3.1 percent, decelerating sharply from a 12.1 percent growth in the previous quarter but beating market consensus of a 2.8 percent rise. Mexico’s economy likely plunged 8.3% in 2020, its biggest annual contraction since the Great Depression in the 1930s.
2021-01-29
Mexico GDP Contracts at a Softer Pace in Q3
Mexico’s gross domestic product shrank 8.6 percent year-on-year in the third quarter of 2020, following a record 18.7 percent slump and matching a preliminary estimate, amid the easing of coronavirus lockdown restrictions. The industrial sector shrank 8.8%, less than a 25.5% plunge in Q2, of which manufacturing (-7.1% vs -29.5%), construction (-17.5% vs -34%) and mining (-3.3% vs -4.4%). Also, services activities contracted 8.8%, after tumbling 16.3%, in particular retail trade (-8.5% vs -29.2%), wholesale trade (-9.4% vs -21.6%), hotels & restaurants (-53.6% vs -70.6%), culture, recreation and sports services (-64.9% vs -78.4%) and transport & storage (-24.9% vs -39.7%). In addition, the primary sector grew 7.7%, rebounding from a 1.5% contraction in the prior period. On a quarterly basis, the country’s economy expanded 12.1%, the most since series began, above a flash reading of a 12% growth and recovering from a record downwardly revised 17% slump in Q2.
2020-11-26

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).