Markets Actual Q4 Q1 Q2 Q3 2022
Currency 20.16 20.36 20.54 20.73 20.91 21.29
Stock Market (points) 51889.66 50509 49186 47895 46639 44228
Government Bond 10Y (%) 7.57 7.71 7.81 7.92 8.03 8.25

Overview Actual Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.50 1.1 0.7 0.5 0.5 0.8
GDP Annual Growth Rate (%) 19.60 5 3.8 2.3 2 2.7
Unemployment Rate (%) 4.30 4.2 4.2 4 4 3.8
Inflation Rate (%) 6.00 5.9 4.7 4.8 4.1 3
Inflation Rate Mom (%) 0.62 0.4 0.2 0.3 0.3 0.4
Interest Rate (%) 4.75 4.75 4.75 4.75 4.75 5
Balance of Trade (USD Million) -3902.00 1000 2500 350 2000 2500
Current Account (USD Million) 6286.10 5000 3000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1 1 1 1
Government Debt to GDP (% of GDP) 52.10 51 49 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -2.5 -2.5 -2.5 -2.5
Business Confidence (points) 51.20 49 50.4 51 51 51
Manufacturing PMI (points) 48.60 49.5 50 50.1 50.3 49
Consumer Confidence (points) 43.40 42.4 41.5 40 40 42
Retail Sales MoM (%) 0.00 1 0.7 0.5 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 Q4 Q1 Q2 Q3 2022
GDP Growth Rate (%) 1.50 1.1 0.7 0.5 0.5 0.8
GDP Annual Growth Rate (%) 19.60 5 3.8 2.3 2 2.7
GDP (USD Billion) 1076.16 1239 1276 1276 1276 1276
GDP Constant Prices (MXN Million) 17965150.00 18385205 18376901 18378348 18324453 18881605
Gross Fixed Capital Formation (MXN Million) 3187980.00 3178092 3293122 3261304 3251740 3263900
GDP per capita (USD) 9322.34 10180 10290 10290 10290 10290
GDP per capita PPP (USD) 17887.75 19500 19500 19500 19500 19730
GDP From Agriculture (MXN Million) 623709.99 735554 595770 638055 636184 755414
GDP From Construction (MXN Million) 1071228.00 1118756 1153702 1095866 1092653 1148963
GDP From Manufacturing (MXN Million) 2873778.00 3002900 2954356 2939875 2931254 3083979
GDP From Mining (MXN Million) 854146.00 879071 917903 873791 871229 902805
GDP From Public Administration (MXN Million) 750214.63 758141 746150 767470 765219 778611
GDP From Services (MXN Million) 11516552.12 12080258 11410094 11781433 11746883 12406425
GDP From Transport (MXN Million) 1126007.00 1079791 1038124 1151905 1148527 1108945
GDP From Utilities (MXN Million) 271057.00 283268 255629 277291 276478 290916

Labour Actual Q4 Q1 Q2 Q3 2022
Unemployment Rate (%) 4.30 4.2 4.2 4 4 3.8
Employed Persons 55242748.00 55300000 55250000 55250000 55250000 55300000
Unemployed Persons 2425506.00 24000000 2300000 2300000 2300000 2180000
Labor Force Participation Rate (%) 59.90 59.2 59.5 59.9 59.9 60.6
Productivity (points) 93.50 94 92 93 93 93
Wages (MXN/Day) 432.04 415 441 423 423 427
Wages in Manufacturing (USD/Hour) 2.80 3.2 2.6 2.5 2.5 3.3
Minimum Wages (MXN/Day) 141.70 142 157 157 157 157
Population (Million) 126.01 129 129 129 129 130
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 95.67 96.4 96.4 96.5 96.5 96.6

Prices Actual Q4 Q1 Q2 Q3 2022
Inflation Rate (%) 6.00 5.9 4.7 4.8 4.1 3
Inflation Rate Mom (%) 0.62 0.4 0.2 0.3 0.3 0.4
Consumer Price Index CPI (points) 114.60 116 117 118 119 119
Core Consumer Prices (points) 113.82 114 115 116 117 118
Core Inflation Rate (%) 4.92 4.6 3.8 3.1 3.1 3
Producer Prices (points) 110.77 108 111 112 114 111
Export Prices (points) 121.07 115 115 111 111 115
Import Prices (points) 262.48 232 232 232 232 233
Inflation Expectations (Percent) 3.72 3.3 3.2 3 3 3
Producer Prices Change (%) 6.02 3.5 3.2 2.6 2.6 2.5
CPI Transportation (points) 111.46 112 112 112 113 113
Food Inflation (%) 8.80 5.4 5.1 5.2 5.2 4.9

Money Actual Q4 Q1 Q2 Q3 2022
Interest Rate (%) 4.75 4.75 4.75 4.75 4.75 5
Interbank Rate (%) 4.75 8.52 4.75 4.75 4.75 4.88
Money Supply M0 (MXN Million) 2198931.10 2175260 2187275 2199290 2199290 2223320
Money Supply M1 (MXN Thousand) 5854424721.00 6234524865 6416884042 6599243219 6599243219 6963961573
Money Supply M2 (MXN Thousand) 10737912864.00 11050308063 11232086358 11413864653 11413864653 11777421244
Money Supply M3 (MXN Thousand) 12803247860.00 13395271232 13713558284 14031845336 14031845336 14668419441
Foreign Exchange Reserves (USD Million) 211671.00 206100 208365 210631 210631 215163
Banks Balance Sheet (MXN Million) 9030794.00 9407538 9508438 9609338 9609338 9811139
Deposit Interest Rate (%) 0.59 0.59 0.59 0.59 0.59 0.84
Central Bank Balance Sheet (MXN Thousand) 4836609982.00 4764097797 4795472092 4826846387 4826846387 5015092158

Trade Actual Q4 Q1 Q2 Q3 2022
Balance of Trade (USD Million) -3902.00 1000 2500 350 2000 2500
Current Account (USD Million) 6286.10 5000 3000 3000 3000 2000
Current Account to GDP (% of GDP) 2.40 1.5 1 1 1 1
Imports (USD Million) 44215.64 35500 36450 36500 36500 35500
Exports (USD Million) 40313.43 38000 36800 38500 38500 38000
External Debt (USD Million) 459892.60 468000 470000 475000 475000 467250
Foreign Direct Investment (USD Million) 5955.50 6000 15000 6000 6000 7800
Remittances (USD Million ) 13002.89 9300 9400 9500 9500 9300
Tourism Revenues (USD Thousand) 1591723.40 1200000 1300000 1500000 1500000 1800000
Tourist Arrivals (Thousand) 1435.72 1700 1900 1500 1500 2300
Gold Reserves (Tonnes) 120.06 120 120 120 120 120
Non Oil Exports (USD Million) 37741.64 36000 34800 35100 35100 37000
Oil Exports (USD Million) 2571.80 1800 1800 2000 2000 2000
Capital Flows (USD Million) -10.10 -5 -8 3 3 15
Auto Exports (Thousand Units) 195.29 285 300 310 310 320

Government Actual Q4 Q1 Q2 Q3 2022
Government Debt to GDP (% of GDP) 52.10 51 49 49 49 49
Government Budget (% of GDP) -4.60 -3.6 -2.5 -2.5 -2.5 -2.5
Government Budget Value (MXN Million) -19760.00 -180000 -121000 -90000 -100000 -170000
Government Spending (MXN Million) 2329059.00 2351709 2335451 2382627 2375640 2415205
Government Revenues (MXN Million) 477785.50 391000 420000 410000 410000 400000
Fiscal Expenditure (MXN Million) 496264.20 512000 510000 510000 510000 535000
Military Expenditure (USD Million) 6607.00 5800 5800 6000 6000 5800

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

Business Actual Q4 Q1 Q2 Q3 2022
Business Confidence (points) 51.20 49 50.4 51 51 51
Manufacturing PMI (points) 48.60 49.5 50 50.1 50.3 49
Industrial Production (%) 5.50 1.5 1 1 1 2
Industrial Production Mom (%) 0.40 0.3 0.2 0.2 0.2 0.3
Manufacturing Production (%) 6.60 2 2.5 1.5 1.5 1.6
Capacity Utilization (%) 76.70 80 81 82 82 82
Total Vehicle Sales (Units) 38569.00 50000 52000 53000 53000 55000
Car Production (Thousand Units) 208.09 320 340 350 350 360
Car Registrations 38569.00 46000 48000 46000 46000 50000
Leading Economic Index (%) 7.10 2 3.5 1.5 1.5 1.6
Private Investment (%) 15.70 3 1 1 1 2
Mining Production (%) 1.88 1.5 2.5 1.5 1.5 2

Consumer Actual Q4 Q1 Q2 Q3 2022
Consumer Confidence (points) 43.40 42.4 41.5 40 40 42
Retail Sales MoM (%) 0.00 1 0.7 0.5 0.5 0.6
Retail Sales YoY (%) 7.20 3 2 2 2 2
Consumer Spending (MXN Million) 11964791.00 12453543 12077414 12239981 12204087 12789789
Personal Savings (%) 21.60 21 21 21 21 21
Consumer Credit (MXN Million) 1280571.10 1360352 1312901 1310024 1306183 1397081
Households Debt To GDP (% of GDP) 17.60 16.3 16.3 16.2 16.2 16.5
Gasoline Prices (USD/Liter) 0.98 0.93 0.88 0.84 0.8 0.76

Housing Actual Q4 Q1 Q2 Q3 2022
Construction Output (%) 8.72 3.5 1.7 2.1 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.