Markets Actual Q3 Q4 Q1 Q2 2022
Currency 19.90 20.28 20.49 20.7 20.92 21.36
Stock Market (points) 50123.80 48853 47512 46201 44935 42499
Government Bond 10Y (%) 6.88 7.11 7.2 7.3 7.4 7.6

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 1.50 0.8 1.1 0.7 0.5 0.8
GDP Annual Growth Rate (%) 19.70 7 5 3.8 3.3 2.7
Unemployment Rate (%) 4.00 3.6 3.6 3.5 3.3 3.3
Inflation Rate (%) 5.88 5.8 5.9 4.7 4.8 3
Inflation Rate Mom (%) 0.53 0.3 0.4 0.2 0.3 0.4
Interest Rate (%) 4.25 4 4 4.25 4.5 5
Balance of Trade (USD Million) 762.00 -800 1000 350 2000 2500
Current Account (USD Million) -5135.40 7000 5000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1.5 1 1 1
Government Debt to GDP (% of GDP) 52.10 51 51 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -3.6 -2.5 -2.5 -2.5
Business Confidence (points) 52.30 50 49 50.4 51 51
Manufacturing PMI (points) 48.80 49 49.5 48.3 48 49
Consumer Confidence (points) 44.50 41 41 40 40 42
Retail Sales MoM (%) 0.60 0.9 1 0.7 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 Q3 Q4 Q1 Q2 2022
GDP Growth Rate (%) 1.50 0.8 1.1 0.7 0.5 0.8
GDP Annual Growth Rate (%) 19.70 7 5 3.8 3.3 2.7
GDP (USD Billion) 1076.16 1239 1239 1276 1276 1276
GDP Constant Prices (MXN Million) 17635563.00 18144128 18377248 18305714 18217537 18873434
Gross Fixed Capital Formation (MXN Million) 3178420.00 3119733 3242089 3299200 3283308 3329626
GDP per capita (USD) 9322.34 10180 10180 10290 10290 10290
GDP per capita PPP (USD) 17887.75 19500 19500 19500 19500 19730
GDP From Agriculture (MXN Million) 577122.49 545361 735554 599053 596168 755414
GDP From Construction (MXN Million) 1111794.00 1052247 1118756 1154042 1148483 1148963
GDP From Manufacturing (MXN Million) 2845670.00 2974229 3002900 2953805 2939577 3083979
GDP From Mining (MXN Million) 883207.00 895375 879071 916769 912353 902805
GDP From Public Administration (MXN Million) 718914.07 755964 758141 746233 742638 778611
GDP From Services (MXN Million) 10988545.05 11405064 12080258 11406110 11351167 12406425
GDP From Transport (MXN Million) 999700.00 981432 1079791 1037689 1032690 1108945
GDP From Utilities (MXN Million) 246133.00 311303 283268 255486 254255 290916

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 4.00 3.6 3.6 3.5 3.3 3.3
Employed Persons 52973270.00 54100000 55300000 55250000 55250000 55300000
Unemployed Persons 2411863.00 2320000 24000000 2300000 2300000 2180000
Labor Force Participation Rate (%) 58.50 59.1 59.2 59.5 59.9 60.6
Productivity (points) 95.30 96 94 92 93 93
Wages (MXN/Day) 431.97 399 415 441 423 427
Wages in Manufacturing (USD/Hour) 2.90 2.7 3.2 2.6 2.5 3.3
Minimum Wages (MXN/Day) 141.70 142 142 157 157 157
Population (Million) 126.01 128 129 129 129 130
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 95.98 95.8 96.4 96.4 96.5 96.6

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 5.88 5.8 5.9 4.7 4.8 3
Inflation Rate Mom (%) 0.53 0.3 0.4 0.2 0.3 0.4
Consumer Price Index CPI (points) 113.02 114 116 117 118 119
Core Consumer Prices (points) 112.28 113 114 115 116 118
Core Inflation Rate (%) 4.58 4.6 4.6 3.8 3.1 3
Producer Prices (points) 109.53 108 108 111 112 111
Export Prices (points) 119.99 118 115 115 111 115
Import Prices (points) 252.68 233 232 232 232 233
Inflation Expectations (Percent) 3.37 3.4 3.3 3.2 3 3
Producer Prices Change (%) 4.43 3.7 3.5 3.2 2.6 2.5
CPI Transportation (points) 111.46 110 109 115 117 113
Food Inflation (%) 6.76 5.7 5.4 5.1 5.2 4.9

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 4.25 4 4 4.25 4.5 5
Interbank Rate (%) 4.32 4.07 4.07 4.32 4.57 4.57
Money Supply M0 (MXN Million) 2156047.00 2163245 2175260 2187275 2199290 2223320
Money Supply M1 (MXN Thousand) 5717365506.00 6052165688 6234524865 6416884042 6599243219 6963961573
Money Supply M2 (MXN Thousand) 10531638070.00 10868529767 11050308063 11232086358 11413864653 11777421244
Money Supply M3 (MXN Thousand) 12573521520.00 13076984180 13395271232 13713558284 14031845336 14668419441
Foreign Exchange Reserves (USD Million) 199302.00 203834 206100 208365 210631 215163
Banks Balance Sheet (MXN Million) 9057263.00 9306637 9407538 9508438 9609338 9811139
Deposit Interest Rate (%) 0.46 0.21 0.21 0.46 0.71 0.71
Central Bank Balance Sheet (MXN Thousand) 4469030844.00 4732723502 4764097797 4795472092 4826846387 5015092158

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Million) 762.00 -800 1000 350 2000 2500
Current Account (USD Million) -5135.40 7000 5000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1.5 1 1 1
Imports (USD Million) 40458.68 38400 35500 36450 36500 35500
Exports (USD Million) 40798.35 37600 38000 36800 38500 38000
External Debt (USD Million) 460516.80 4650000 468000 470000 475000 467250
Foreign Direct Investment (USD Million) 11864.00 4800 6000 15000 6000 7800
Remittances (USD Million ) 10623.27 9500 9300 9400 9500 9300
Tourism Revenues (USD Thousand) 1591723.40 950000 1200000 1300000 1500000 1800000
Tourist Arrivals (Thousand) 1509.90 1300 1700 1900 1500 2300
Gold Reserves (Tonnes) 119.87 120 120 120 120 120
Non Oil Exports (USD Million) 38526.36 34000 36000 34800 35100 37000
Oil Exports (USD Million) 2272.00 2100 1800 1800 2000 2000
Capital Flows (USD Million) -6.50 -8 -5 -8 3 15
Auto Exports (Thousand Units) 234.39 270 285 300 310 320

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 52.10 51 51 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -3.6 -2.5 -2.5 -2.5
Government Budget Value (MXN Million) -118460.00 -73000 -121000 -90000 -100000 -135000
Government Spending (MXN Million) 2250041.00 2311487 2351709 2335543 2324292 2415205
Government Revenues (MXN Million) 456401.90 450000 391000 420000 410000 400000
Fiscal Expenditure (MXN Million) 452946.60 523000 512000 510000 510000 535000
Military Expenditure (USD Million) 6607.00 6000 5800 5800 6000 5800

Taxes Actual Q3 Q4 Q1 Q2 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 7.56 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.5 1.65 1.65 1.65 1.65

Business Actual Q3 Q4 Q1 Q2 2022
Business Confidence (points) 52.30 50 49 50.4 51 51
Manufacturing PMI (points) 48.80 49 49.5 48.3 48 49
Industrial Production (%) 36.40 5.5 1.5 1 1 2
Industrial Production Mom (%) 0.10 0.3 0.3 0.2 0.2 0.3
Manufacturing Production (%) 48.03 6 2 2.5 1.5 1.6
Capacity Utilization (%) 78.30 78 80 81 82 82
Total Vehicle Sales (Units) 45359.00 44000 50000 52000 53000 55000
Car Production (Thousand Units) 263.96 265 320 340 350 360
Car Registrations 45359.00 43000 46000 48000 46000 50000
Leading Economic Index (%) 25.10 4 2 3.5 1.5 1.6
Private Investment (%) 43.10 6 3 1 1 2
Mining Production (%) 8.94 2 1.5 2.5 1.5 2

Consumer Actual Q3 Q4 Q1 Q2 2022
Consumer Confidence (points) 44.50 41 41 40 40 42
Retail Sales MoM (%) 0.60 0.9 1 0.7 0.5 0.6
Retail Sales YoY (%) 29.70 5 3 2 2 2
Consumer Spending (MXN Million) 11637954.00 11751882 12453543 12080196 12022006 12789789
Personal Savings (%) 21.60 21 21 21 21 21
Consumer Credit (MXN Million) 1265336.40 1373439 1352050 1313419 1307093 1388555
Households Debt To GDP (% of GDP) 17.40 16.1 16.3 16.3 16.2 16.5
Gasoline Prices (USD/Liter) 1.02 0.97 0.92 0.87 0.83 0.79

Housing Actual Q3 Q4 Q1 Q2 2022
Construction Output (%) 45.02 9 3.5 1.7 2.1 2


This page has economic forecasts for Mexico including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Mexico economy.