The Mexican economy advanced 1.2 percent year-on-year in the first quarter of 2019, below a preliminary figure of 1.3 percent and 1.7 percent in the previous period. It is the weakest expansion since Q1 2018, as services slowed and the industrial sector continued to shrank. Primary activities rose slightly less than initially estimated. GDP Annual Growth Rate in Mexico averaged 2.47 percent from 1994 until 2019, reaching an all time high of 9 percent in the fourth quarter of 1996 and a record low of -9.10 percent in the second quarter of 1995.

GDP Annual Growth Rate in Mexico is expected to be 1.90 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 1.80 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.

Mexico GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-30 02:00 PM GDP Growth Rate YoY Prel 1.8% 2.5% 2.6% 2.2%
2019-02-25 02:00 PM GDP Growth Rate YoY Final 1.7% 2.5% 1.8% 2.3%
2019-04-30 01:00 PM GDP Growth Rate YoY Prel 1.3% 1.7% 1.4%
2019-05-24 01:00 PM GDP Growth Rate YoY Final 1.2% 1.7% 1.3% 1.3%
2019-07-31 01:00 PM GDP Growth Rate YoY Prel 1.2% 1.9%
2019-08-23 01:00 PM GDP Growth Rate YoY Final 1.2% 1.9%
2019-10-30 02:00 PM GDP Growth Rate YoY Prel 1.9%



Mexico Annual GDP Growth Rate Revised Down to 1.2%

The Mexican economy advanced 1.2 percent year-on-year in the first quarter of 2019, below a preliminary figure of 1.3 percent and 1.7 percent in the previous period. It is the weakest expansion since Q1 2018, as services slowed and the industrial sector continued to shrank. Primary activities rose slightly less than initially estimated.

Services grew 1.9 percent in the first quarter of 2019, matching the initial estimate and slowing from a 2.7 percent expansion in the previous period. Growth slowed in: retail trade (0.8 percent vs 1.8 percent in Q4); wholesale trade (2.8 percent vs 3 percent); transport & storage (0.7 percent vs 2.2 percent); information & communication (0.1 percent vs 8.5 percent); finance & insurance (6.8 percent vs 9 percent) and real estate activities (1.9 percent vs 2.1 percent). Moreover, declines were seen in corporate services (-3 percent vs -1.1 percent); cultural and sports activities (-2.4 percent vs 0.2 percent) and food & accomodation services (-1.3 percent vs 0.2 percent). In contrast, professional, scientific and technical services (5.6 percent vs 4.1 percent) and business services (7.7 percent vs 3.5 percent) posted sharp gains.

The industrial sector contracted 0.7 percent, in line with the preliminary figure, following a 0.9 percent decline in the previous period. Declines were recorded in mining (-7.6 percent vs -7.3 percent), mostly due to oil (-10.2 percent vs -8.2 percent); utilities (-0.7 percent vs 1.4 percent) and construction (-0.8 percent vs -2.2 percent). Meanwhile, manufacturing activity rose slightly faster (1.6 percent vs 1.5 percent).

In contrast, the primary sector advanced 5.8 percent, below a preliminary reading of 5.9 percent, but faster than a downwardly revised 2.9 percent rise in the fourth quarter.

On a quarterly basis, the economy shrank 0.2 percent, in line with the initial figure and after showing no growth in Q4.



INEGI | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/24/2019 2:39:39 PM



Mexico GDP Last Previous Highest Lowest Unit
GDP Growth Rate -0.20 0.00 3.20 -5.70 percent [+]
GDP Annual Growth Rate 1.20 1.70 9.00 -9.10 percent [+]
GDP 1150.89 1077.78 1314.56 13.04 USD Billion [+]
GDP Constant Prices 18552607.00 18584926.00 18584926.00 9736295.00 MXN Million [+]
Gross Fixed Capital Formation 3693570.00 3668385.00 3838433.00 1475417.00 MXN Million [+]
GDP per capita 9946.16 9871.67 9946.16 3047.11 USD [+]
GDP per capita PPP 17336.47 17206.63 17336.47 10456.94 USD [+]
GDP From Agriculture 590490.29 712278.12 712278.12 326544.91 MXN Million [+]
GDP From Construction 1284077.00 1306139.00 1349535.00 616361.00 MXN Million [+]
GDP From Manufacturing 2918815.00 2940369.00 2967936.00 1579762.00 MXN Million [+]
GDP From Mining 862095.00 848112.00 1339290.00 848112.00 MXN Million [+]
GDP From Public Administration 686777.73 716017.67 747616.63 552862.50 MXN Million [+]
GDP From Services 11536484.18 12148761.14 12148761.14 5606905.89 MXN Million [+]
GDP From Transport 1180004.00 1222308.00 1222308.00 557632.00 MXN Million [+]
GDP From Utilities 250530.00 268312.00 295361.00 93738.00 MXN Million [+]


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). This page provides - Mexico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.20 1.70 9.00 -9.10 1994 - 2019 percent Quarterly
NSA




Country Last Previous
China 6.40 Mar/19
India 5.80 Mar/19
Indonesia 5.07 Mar/19
Saudi Arabia 3.60 Dec/18
United States 3.20 Mar/19
Spain 2.40 Mar/19
Australia 1.80 Mar/19
United Kingdom 1.80 Mar/19
Netherlands 1.70 Mar/19
South Korea 1.70 Mar/19
Switzerland 1.70 Mar/19
Canada 1.30 Mar/19
Euro Area 1.20 Mar/19
France 1.20 Mar/19
Mexico 1.20 Mar/19
Singapore 1.20 Mar/19
Japan 0.90 Mar/19
Germany 0.70 Mar/19
Brazil 0.50 Mar/19
Russia 0.50 Mar/19
South Africa 0.00 Mar/19
Italy -0.10 Mar/19
Turkey -2.60 Mar/19
Argentina -5.80 Mar/19


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