The Mexican economy expanded 19.6% year-on-year in the second quarter of 2021, the first increase in over 2 years but slightly lower than 19.6% in the preliminary estimate. Still, it remains a record growth rate as a low base effect form last year is weighing as the economy shrank at a record pace of 18.7% a year earlier due to the coronavirus lockdown. The secondary sector grew the most (27.9% vs 28.2% in the pre), followed by services (17.1%, the same as in the first estimate) and primary activities (6.7%, the same as in the first estimate). source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Annual Growth Rate in Mexico averaged 2.09 percent from 1994 until 2021, reaching an all time high of 19.60 percent in the second quarter of 2021 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 October of 2021.

GDP Annual Growth Rate in Mexico is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 2.70 percent in 2022 and 2.40 percent in 2023, according to our econometric models.

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Mexico GDP Annual Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-07-30 11:00 AM YoY Prel Q2 19.7% -3.6% 19.8% 19.1%
2021-08-25 11:00 AM YoY Final Q2 19.6% -3.6% 19.8% 19.7%
2021-10-29 11:00 AM YoY Prel Q3 19.6% 6% 12%


News Stream
Mexico GDP Annual Growth Revised Slightly Down in Q2
The Mexican economy expanded 19.6% year-on-year in the second quarter of 2021, the first increase in over 2 years but slightly lower than 19.6% in the preliminary estimate. Still, it remains a record growth rate as a low base effect form last year is weighing as the economy shrank at a record pace of 18.7% a year earlier due to the coronavirus lockdown. The secondary sector grew the most (27.9% vs 28.2% in the pre), followed by services (17.1%, the same as in the first estimate) and primary activities (6.7%, the same as in the first estimate).
2021-08-25
Mexico GDP Grows at Record Pace
The Mexican economy expanded at a record 19.7% year-on-year in the second quarter of 2021, the first increase in over 2 years and compared to forecasts of 19.8%. A low base effect form last year is weighing as the economy shrank at a record pace of 18.7% a year earlier due to the coronavirus lockdown. The secondary sector grew the most (28.2%), followed by services (17.1%) and primary activities (6.7%), preliminary estimates showed.
2021-07-30
Mexico Economy Contracts for 8th Straight Quarter
Mexico's GDP shrank 3.6 percent on year in the first quarter of 2021, an eight consecutive period of contraction and slightly worse than a preliminary estimate of a 3.5 percent fall. Consumer and tourism related sectors continued to suffer amid a resurgence in COVID cases and new lockdowns across the globe, while the Texas freeze in February caused power shortages in the manufacturing hubs of northern and central Mexico. The largest contraction rates were seen at cultural and sports entertainment services, and other recreational services (-44.9 percent), temporary accommodation and food and beverage preparation services (-33.3 percent), and transportation and storage (-12.7 percent). In addition, utilities output dropped 6.1 percent, while construction activity fell 6.8 percent. Mining output also declined 2.7 percent and manufacturing was 0.6 percent lower. On a brighter note, primary activities grew 2.8 percent.
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 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).