The Mexican economy expanded 2.5 percent year-on-year in the third quarter of 2018, below a preliminary figure of 2.6 percent and a 2.6 percent rise in the previous quarter, mainly as services grew less than initially estimated. GDP Annual Growth Rate in Mexico averaged 2.49 percent from 1994 until 2018, 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 2.20 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 2.30 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 1.40 percent in 2020, according to our econometric models.

Mexico GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 01:00 PM GDP Growth Rate YoY Prel 2.7% 1.3% 1.4%
2018-08-24 01:00 PM GDP Growth Rate YoY Final 2.6% 1.4% 2.5%
2018-10-30 02:00 PM GDP Growth Rate YoY Prel 2.6% 2.6% 2.4%
2018-11-23 02:00 PM GDP Growth Rate YoY Final 2.5% 2.6% 2.6% 2.6%
2019-01-30 02:00 PM GDP Growth Rate YoY Prel 2.20%
2019-02-25 02:00 PM GDP Growth Rate YoY Final 2.20%
2019-04-30 01:00 PM GDP Growth Rate YoY Prel 2.30%



Mexico Annual GDP Growth Revised Down to 2.5% in Q3



The Mexican economy expanded 2.5 percent year-on-year in the third quarter of 2018, below a preliminary figure of 2.6 percent and a 2.6 percent rise in the previous quarter, mainly as services grew less than initially estimated.

Services expanded 3.2 percent in the third quarter of 2018, below a preliminary estimate of 3.4 percent but and at the same pace as a downwardly revised 3.2 percent rise in the prior period. Growth slowed in: wholesale trade (1.8 percent vs 3.6 percent); transport and storage (3.4 percent vs 3.8 percent); information and communication (4.4 percent vs 7.7 percent); business services (5.5 percent vs 7.3 percent) and education (0.2 percent vs 1.2 percent). Meanwhile, faster growth was seen in financial services & insurance (8.5 percent vs 4.5 percent in Q2); retail trade (5.5 percent vs 3.6 percent) and health care & social assistance (3.3 percent vs 2.3 percent). Also, output rebounded for professional, scientific and technical services (3.1 percent vs -0.3 percent) and cultural and sports activities (1.9 percent vs -1.1 percent). At the same time, real estate activities increased at the same pace (2.3 percent).

The industrial sector advanced 1.1 percent, matching the preliminary figure, but below a 1.3 percent increase in the second quarter. Manufacturing activity increased 2.3 percent, slowing from a 3.3 percent growth in the previous period. In addition, output rose less for construction (0.7 percent vs 2.4 percent) while it continued to fall in mining (-2.9 percent vs -6.0 percent). Conversely, the utilities sector expanded robustly (4.0 percent vs 2.1 percent).

Meanwhile, the agricultural sector grew 2.2 percent, in line with an earlier reading, and above a downwardly revised 1.5 percent advance in the prior period.

On a quarterly basis, the economy expanded 0.8 percent, less than a preliminary estimate of 0.9 percent and compared to a downwardly revised 0.1 percent contraction in the second quarter.


INEGI | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
11/23/2018 4:23:31 PM



Mexico GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.80 -0.10 3.20 -5.70 percent [+]
GDP Annual Growth Rate 2.50 2.60 9.00 -9.10 percent [+]
GDP 1149.92 1076.91 1314.39 13.04 USD Billion [+]
GDP Constant Prices 18610326.00 18457137.00 18610326.00 9736434.00 MXN Million [+]
Gross Fixed Capital Formation 3808150.84 3833748.37 3836735.65 1475244.17 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 491385.00 609144.99 690734.08 326544.91 MXN Million [+]
GDP From Construction 1288945.00 1286690.00 1349021.00 616361.00 MXN Million [+]
GDP From Manufacturing 2965041.00 2962075.00 2965041.00 1579762.00 MXN Million [+]
GDP From Mining 896682.00 911669.00 1339290.00 896682.00 MXN Million [+]
GDP From Public Administration 686638.84 747616.63 747616.63 552862.50 MXN Million [+]
GDP From Services 11628126.28 11763649.62 11825042.55 5606905.89 MXN Million [+]
GDP From Transport 1208225.00 1218568.00 1218568.00 557632.00 MXN Million [+]
GDP From Utilities 294583.00 276877.00 294583.00 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.60 9.00 -9.10 1994 - 2018 percent Quarterly
NSA




Country Last Previous
India 7.10 Sep/18
China 6.50 Sep/18
Indonesia 5.17 Sep/18
United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Spain 2.50 Sep/18
Netherlands 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Sep/18
South Korea 2.00 Sep/18
Canada 1.90 Jun/18
Saudi Arabia 1.61 Jun/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
Russia 1.50 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -4.20 Jun/18


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