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. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Annual Growth Rate in Mexico averaged 2.05 percent from 1994 until 2020, 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 December of 2020.

GDP Annual Growth Rate in Mexico is expected to be -6.50 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 8.00 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 4.60 percent in 2021 and 2.20 percent in 2022, according to our econometric models.

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Mexico GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-8.60 -18.70 9.00 -18.70 1994 - 2020 percent Quarterly
NSA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-30 11:00 AM YoY Prel Q2 -18.9% -1.4% -19.2% -19.6%
2020-08-26 11:00 AM YoY Final Q2 -18.7% -1.3% -18.9%
2020-10-30 12:00 PM YoY Prel Q3 -8.6% -18.7% -8.7% -8.7%
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 -8.6% -6.5%
2021-02-25 12:00 PM YoY Final Q4
2021-04-30 11:00 AM YoY Prel Q1
2021-05-26 11:00 AM YoY Final Q1


News Stream
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 Economy Shrinks Less than Expected 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 plunge in the previous period and compared with market expectations of an 8.7 percent drop, amid the easing of coronavirus lockdown restrictions. The industrial sector contracted 8.8 percent, less than a 25.7 percent slump in the second quarter of the year; and services activities shrank 8.8 percent, after declining 16.2 percent. In addition, the primary sector fell 8.6 percent, following an 18.7 percent contraction in the prior period. On a quarterly basis, the country’s economy grew 12 percent, the most since series began, rebounding from a record 17.1 percent plunge in the second quarter of the year and beating market forecasts of an 11.9 percent expansion.
2020-10-30
Mexico GDP Contracts at Record Pace in Q2
Mexico’s gross domestic product shrank 18.7 percent year-on-year in the second quarter of 2020, below a preliminary estimate of a 18.9 percent contraction and following a downwardly revised 1.4 percent drop in the previous period. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. The industrial sector slumped 25.7%, faster than a 2.6% fall in the prior quarter, in particular manufacturing (-29.6% vs -2.6%), construction (-34.2% vs -8.2%) and mining (-4.8% vs 4.7%). The services sector contracted 15.6%, following a 0.7% contraction, of which retail trade (-28.9% vs 0.8%), wholesale trade (-21.7% vs -4.4%), hotels & restaurants (-70.4% vs 7.9%), culture, recreation and sports services (-76.9% vs -14.1%) and transport & storage (-39.3% vs -2.7%). Also, primary activities shrank 0.5%, after growing 0.9% in the previous period. On a quarterly basis, the country’s economy plunged 17.1%, the most on record, after contracting 1.2% in Q1.
2020-08-26
Mexican Economy Shrinks at Record Pace
Mexico’s gross domestic product contracted 18.9 percent year-on-year in the second quarter of 2020, following a 1.4 percent decline in the previous period and compared with market expectations of a 19.2 percent slump, a preliminary estimate showed. It was the sharpest contraction on record, as the coronavirus pandemic hit the economy. The industrial sector plunged 26 percent, after shrinking 2.9 percent in the prior quarter; the services sector contracted 15.6 percent, following a 0.7 percent contraction in the first three months of the year. Also, primary activities shrank 0.7 percent, after growing 1.4 percent in the previous period. On a quarterly basis, the country’s economy slumped 17.3 percent, the most on record, after a 1.2 percent contraction in Q1 but slightly below forecasts of a 17.8 percent slump.
2020-07-30

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).