The Mexican economy contracted 0.4% on the quarter in the three months leading to September of 2021, above preliminary estimates of a 0.2% decrease. It is the first contraction in four quarters with the services sector shrinking 0.9% and surpassing the preliminary estimate of a 0.6% decrease. Services were hindered by the rise of the delta variant of the coronavirus during Q3, resulting in shutdowns and restrictions for restaurants, stores, and other public venues. On the other hand, the primary sector rose 1.3%, above the preliminary estimate of 0.7%, while the industrial sector grew 0.3% from the preliminary estimate of 0.7%. Secondary activity suffered from global supply-chain bottlenecks and the semiconductor chip shortage that hurt the auto industry, which adds up to 18% of Mexico's manufacturing output and one third of exports. Year-on-year, the economy expanded 4.5%, slightly less than the initial estimate of a 4.6%. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Growth Rate in Mexico averaged 0.53 percent from 1993 until 2021, reaching an all time high of 12.50 percent in the third quarter of 2020 and a record low of -16.90 percent in the second quarter of 2020. This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Growth Rate in Mexico is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico GDP Growth Rate is projected to trend around 0.80 percent in 2022, according to our econometric models.

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Mexico GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-10-29 11:00 AM QoQ Prel Q3 -0.2% 1.5% 0.1% 0.7%
2021-11-25 12:00 PM QoQ Final Q3 -0.4% 1.2% -0.3% -0.2%


Related Last Previous Unit Reference
GDP Growth Rate -0.40 1.20 percent Sep/21
GDP Annual Growth Rate 4.50 19.90 percent Sep/21
GDP Constant Prices 17965150.00 17704144.00 MXN Million Jun/21
Gross Fixed Capital Formation 3187980.00 3172565.00 MXN Million Jun/21
GDP From Utilities 271057.00 246271.00 MXN Million Jun/21
GDP From Transport 1126007.00 1000119.00 MXN Million Jun/21
GDP From Services 11516552.12 10992383.03 MXN Million Jun/21
GDP From Public Administration 750214.63 718834.33 MXN Million Jun/21
GDP From Mining 854146.00 884300.00 MXN Million Jun/21
GDP From Manufacturing 2873778.00 2846200.00 MXN Million Jun/21
GDP From Construction 1071228.00 1111466.00 MXN Million Jun/21
GDP From Agriculture 623709.99 573959.83 MXN Million Jun/21

News Stream
Mexican Economy Contracts More than Expected
The Mexican economy contracted 0.4% on the quarter in the three months leading to September of 2021, above preliminary estimates of a 0.2% decrease. It is the first contraction in four quarters with the services sector shrinking 0.9% and surpassing the preliminary estimate of a 0.6% decrease. Services were hindered by the rise of the delta variant of the coronavirus during Q3, resulting in shutdowns and restrictions for restaurants, stores, and other public venues. On the other hand, the primary sector rose 1.3%, above the preliminary estimate of 0.7%, while the industrial sector grew 0.3% from the preliminary estimate of 0.7%. Secondary activity suffered from global supply-chain bottlenecks and the semiconductor chip shortage that hurt the auto industry, which adds up to 18% of Mexico's manufacturing output and one third of exports. Year-on-year, the economy expanded 4.5%, slightly less than the initial estimate of a 4.6%.
2021-11-25
Mexican Economy Sees Quarterly Contraction
The Mexican economy contracted 0.2 percent on quarter in the third quarter of 2021, from a 1.5 percent growth rate in the previous period and below market expectations of a 0.1 percent increase. The services sector output was 0.6 percent lower, due to higher economic restrictions that took place amid the spread of the Delta variant of the coronavirus. On the other hand, both the agricultural and manufacturing sectors edged up by 0.7%.
2021-10-29
Mexico GDP Growth Unrevised at 1.5% in Q2
The Mexican economy expanded 1.5% on quarter in the three months to June of 2021, in line with preliminary estimates, and booking the 4th consecutive quarter of growth. The services sector jumped 3%, way better than initial estimates of 2.1% due to easing coronavirus restrictions. The agricultural sector also increased more than anticipated (0.8% vs 0.6%) while the industrial sector grew at a slightly weaker pace (0.3% vs 0.4%). Positive spillovers from US economic expansion via rising Mexican exports and stronger terms of trade are likely to continue to support the economy. Still, rising coronavirus infections are a threat as the country is now going through its third wave of infections and as cases continue to rise in Canada and the US, the country's biggest trading partners. Year-on-year, the economy expanded 19.6%, slightly less than initial estimates of a 19.7% surge. Still, it remains the first growth in 2 years.
2021-08-25

Mexico GDP Growth Rate
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).