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

GDP Growth Rate in Mexico averaged 0.54 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 October of 2021.

GDP Growth Rate in Mexico is expected to be 0.80 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
2021-07-30 11:00 AM QoQ Prel Q2 1.5% 0.8% 1.7% 1.4%
2021-08-25 11:00 AM QoQ Final Q2 1.5% 0.8% 1.7% 1.5%
2021-10-29 11:00 AM QoQ Prel Q3 1.5% 0.1% 0.7%


News Stream
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
Mexican Economic Growth Accelerates
The Mexican economy advanced 1.5% on quarter in the second quarter of 2021, following a 0.8% growth in the previous period and slightly less than forecasts of 1.7%, preliminary estimates showed. The services sector recorded the strongest gain (2.1%) due to easing coronavirus restrictions while the agricultural sector and industry edged up 0.6% and 0.4% respectively. Positive spillovers from US economic expansion via rising Mexican exports and stronger terms of trade are likely to continue to support growth. Still, rising coronavirus infections are a threat as the country is now going through its third wave of infections. Year-on-year, the economy expanded 19.7%, the first growth in 2 years.
2021-07-30
Mexico Q1 GDP Growth Revised Slightly Higher
Mexico's gross domestic product grew by 0.8 percent on quarter in the three months to March 2021, beating a preliminary estimate of 0.6 percent and following a downwardly revised 3.2 percent expansion in the previous period. It was the slowest pace of economic growth since a recovery began in the third quarter of 2020. The service sector growth slowed to 0.9 percent from 3.2 percent in Q4 2020 on the back of a resurgence in COVID cases and new lockdowns across the globe. In addition, industrial output advanced at a slower 0.5 percent (vs 3.6 percent in Q4) as the Texas freeze in February caused power shortages in the manufacturing hubs of northern and central Mexico. Agriculture activity, however, rebounded 0.7 percent (vs -2.1 percent in Q4). GDP in Latin America’s second-biggest economy plummeted by 8.3 percent last year, the biggest decline in about nine decades.
2021-05-26

Mexico Last Unit Reference Previous Highest Lowest
GDP Growth Rate 1.50 percent Jun/21 0.80 12.50 -16.90
GDP Annual Growth Rate 19.60 percent Jun/21 -3.60 19.60 -18.70
GDP Constant Prices 17965150.00 MXN Million Jun/21 17704144.00 18570941.00 9736803.00
Gross Fixed Capital Formation 3187980.00 MXN Million Jun/21 3172565.00 3855474.00 1474915.00
GDP From Utilities 271057.00 MXN Million Jun/21 246271.00 311145.00 93738.00
GDP From Transport 1126007.00 MXN Million Jun/21 1000119.00 1214200.00 557632.00
GDP From Services 11516552.12 MXN Million Jun/21 10992383.03 12110058.00 5606905.89
GDP From Public Administration 750214.63 MXN Million Jun/21 718834.33 760835.30 552862.50
GDP From Mining 854146.00 MXN Million Jun/21 884300.00 1339290.00 802535.00
GDP From Manufacturing 2873778.00 MXN Million Jun/21 2846200.00 2990193.00 1579762.00
GDP From Construction 1071228.00 MXN Million Jun/21 1111466.00 1342243.00 616361.00
GDP From Agriculture 623709.99 MXN Million Jun/21 573959.83 706171.12 326544.91


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).