Markets Actual Q4 Q1 Q2 Q3 2022
Currency 21.11 21.47 21.66 21.86 22.06 22.46
Stock Market (points) 50537.84 49378 48189 47025 45892 43707
Government Bond 10Y (%) 7.35 7.48 7.58 7.69 7.79 8.01

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) -0.40 1.1 0.7 0.5 0.5 0.8
GDP Annual Growth Rate (%) 4.50 3 2.8 1.3 2 2.7
Unemployment Rate (%) 3.90 4.2 4.2 4 4 3.8
Inflation Rate (%) 6.24 6.7 6.2 5.5 4.1 3
Inflation Rate Mom (%) 0.84 0.4 0.2 0.3 0.3 0.4
Interest Rate (%) 5.00 5 5.25 5.25 5.25 5.25
Balance of Trade (USD Million) -2701.00 1000 350 2000 2000 2500
Current Account (USD Million) -4070.00 5000 3000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1 1 1 1
Government Debt to GDP (% of GDP) 52.10 51 49 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -2.5 -2.5 -2.5 -2.5
Business Confidence (points) 52.20 52 52.5 52.6 52.3 51.9
Manufacturing PMI (points) 49.40 49.5 50 50.1 50.3 49
Consumer Confidence (points) 45.80 42.4 41.5 40 40 42
Retail Sales MoM (%) 0.20 1 0.7 0.5 0.5 0.6
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) -0.40 1.1 0.7 0.5 0.5 0.8
GDP Annual Growth Rate (%) 4.50 3 2.8 1.3 2 2.7
GDP (USD Billion) 1076.16 1239 1276 1276 1276 1276
GDP Constant Prices (MXN Million) 17841981.00 19368988 18199860 18198697 18198821 18521956
Gross Fixed Capital Formation (MXN Million) 3187980.00 3903778 3261397 3229424 3251740 3201731
GDP per capita (USD) 8927.34 10180 10290 10290 10290 10290
GDP per capita PPP (USD) 17887.75 19500 19500 19500 19500 19730
GDP From Agriculture (MXN Million) 520266.40 739991 590031 631818 530672 741025
GDP From Construction (MXN Million) 1087544.00 1357627 1142587 1085154 1109295 1127078
GDP From Manufacturing (MXN Million) 2896316.00 3055777 2925894 2911137 2954242 3025236
GDP From Mining (MXN Million) 862109.00 883748 909060 865250 879351 885609
GDP From Public Administration (MXN Million) 694472.18 745039 738962 759967 708362 763780
GDP From Services (MXN Million) 11147442.95 12638459 11300170 11666267 11370392 12170112
GDP From Transport (MXN Million) 1103651.00 1274250 1028122 1140645 1125724 1087822
GDP From Utilities (MXN Million) 289048.00 279190 253167 274581 294829 285375

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 3.90 4.2 4.2 4 4 3.8
Employed Persons 55836230.00 55300000 55250000 55250000 55250000 55300000
Unemployed Persons 2471216.00 24000000 2300000 2300000 2300000 2180000
Labor Force Participation Rate (%) 59.40 59.2 59.5 59.9 59.9 60.6
Productivity (points) 90.70 94 92 93 93 93
Wages (MXN/Day) 431.96 415 441 423 423 427
Wages in Manufacturing (USD/Hour) 2.90 3.2 2.6 2.5 2.5 3.3
Minimum Wages (MXN/Day) 141.70 142 157 157 157 157
Population (Million) 126.01 129 129 129 129 130
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 96.05 96.4 96.4 96.5 96.5 96.6

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 6.24 6.7 6.2 5.5 4.1 3
Inflation Rate Mom (%) 0.84 0.4 0.2 0.3 0.3 0.4
Consumer Price Index CPI (points) 115.56 117 119 119 119 120
Core Consumer Prices (points) 114.38 114 115 116 117 118
Core Inflation Rate (%) 5.19 4.6 3.8 3.1 3.1 3
Producer Prices (points) 111.93 147 114 116 115 114
Export Prices (points) 122.42 115 115 111 111 115
Import Prices (points) 267.62 232 232 232 232 233
Food Inflation (%) 8.42 5.4 5.1 5.2 5.2 4.9
CPI Transportation (points) 111.86 112 113 113 113 114
Producer Prices Change (%) 7.06 6.5 6.2 5.6 3.6 2.5
Inflation Expectations (%) 4.11 3.3 3.2 3 3 3

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 5.00 5 5.25 5.25 5.25 5.25
Interbank Rate (%) 5.13 5.13 5.38 5.38 5.38 5.38
Money Supply M0 (MXN Million) 2225574.30 2175260 2187275 2199290 2199290 2223320
Money Supply M1 (MXN Thousand) 5935242757.00 6234524865 6416884042 6599243219 6599243219 6963961573
Money Supply M2 (MXN Thousand) 10901751745.00 11050308063 11232086358 11413864653 11413864653 11777421244
Money Supply M3 (MXN Thousand) 13069186353.00 13395271232 13713558284 14031845336 14031845336 14668419441
Foreign Exchange Reserves (USD Million) 211590.00 206100 208365 210631 210631 215163
Banks Balance Sheet (MXN Million) 9072313.35 9100600 9200800 9300100 9400800 9500500
Deposit Interest Rate (%) 0.63 2.7 0.88 0.88 0.88 0.88
Central Bank Balance Sheet (MXN Thousand) 4937494983.00 4764097797 4795472092 4826846387 4826846387 5015092158

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) -2701.00 1000 350 2000 2000 2500
Current Account (USD Million) -4070.00 5000 3000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1 1 1 1
Imports (USD Million) 44658.13 35500 36450 36500 36500 35500
Exports (USD Million) 41957.14 38000 36800 38500 38500 38000
External Debt (USD Million) 459892.60 468000 470000 475000 475000 467250
Foreign Direct Investment (USD Million) 5446.30 6000 15000 6000 6000 7800
Remittances (USD Million ) 13686.84 9300 9400 9500 9500 9300
Tourism Revenues (USD Thousand) 1800920.72 1200000 1300000 1500000 1500000 1800000
Tourist Arrivals (Thousand) 1251.12 1700 1900 1500 1500 2300
Gold Reserves (Tonnes) 120.06 120 120 120 120 120
Capital Flows (USD Million) -19.00 -5 -8 3 3 15
Auto Exports (Thousand Units) 240.34 220 260 240 220 260
Non Oil Exports (USD Million) 39185.19 36000 34800 35100 35100 37000
Oil Exports (USD Million) 2771.95 1800 1800 2000 2000 2000

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 52.10 51 49 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -2.5 -2.5 -2.5 -2.5
Government Budget Value (MXN Million) 10978.00 -180000 -90000 -100000 -100000 -170000
Government Spending (MXN Million) 2329059.00 2282513 2312952 2359337 2375640 2369201
Government Revenues (MXN Million) 483494.80 391000 420000 410000 410000 400000
Fiscal Expenditure (MXN Million) 493147.80 512000 510000 510000 510000 535000
Military Expenditure (USD Million) 6607.00 5800 5800 6000 6000 5800

Taxes Actual Q4 Q1 Q2 Q3 2022
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 9.23 9.23 9.23 9.23 9.23 9.23
Social Security Rate For Companies (%) 7.58 7.58 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.65 1.65 1.65 1.65 1.65

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) 52.20 52 52.5 52.6 52.3 51.9
Manufacturing PMI (points) 49.40 49.5 50 50.1 50.3 49
Industrial Production (%) 1.60 1.5 1 1 1 2
Industrial Production Mom (%) -1.40 0.3 0.2 0.2 0.2 0.3
Manufacturing Production (%) -0.38 2 2.5 1.5 1.5 1.6
Capacity Utilization (%) 76.00 80 81 82 82 82
Total Vehicle Sales (Units) 39362.00 50000 52000 53000 53000 55000
Car Production (Thousand Units) 248.96 320 340 350 350 360
Car Registrations 39362.00 46000 48000 46000 46000 50000
Leading Economic Index (points) 107.40 108 110 112 115 114
Private Investment (%) 9.90 3 1 1 1 2
Mining Production (%) 2.00 1.5 2.5 1.5 1.5 2

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 45.80 42.4 41.5 40 40 42
Retail Sales MoM (%) 0.20 1 0.7 0.5 0.5 0.6
Retail Sales YoY (%) 5.90 3 2 2 2 2
Consumer Spending (MXN Million) 11964791.00 13336515 11961062 12120333 12204087 12546173
Personal Savings (%) 21.60 21 21 21 21 21
Consumer Credit (MXN Million) 1297925.00 1334440 1300253 1297219 1323884 1370470
Gasoline Prices (USD/Liter) 0.93 0.89 0.84 0.8 0.76 0.72
Households Debt To GDP (% of GDP) 17.60 16.3 16.3 16.2 16.2 16.5

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) 8.35 3.5 1.7 2.1 2.1 2


Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Mexico Forecast - was last updated on Tuesday, December 7, 2021.