Mexico GDP Annual Progress Fee

Mexico’s gross home product expanded by 3.3% from the corresponding interval of the earlier yr within the third quarter of 2023, notching ten consecutive quarters of yearly progress, and according to market expectations. The consequence prolonged the interval of resilience to the Financial institution of Mexico’s aggressive tightening cycle and added leeway for the central financial institution to lengthen its hawkish outlook. Output elevated considerably for major actions (5.7% vs 3.6% in Q2) and secondary actions (4.3% vs 3.9%), largely because of robust output in petrol extraction, energy era, and development. Within the meantime, companies output expanded by 2.7%, slowing barely from the three.1% progress within the second quarter. . supply: Instituto Nacional de Estadística y Geografía (INEGI)

The Gross Home Product (GDP) in Mexico expanded 3.30 % within the third quarter of 2023 over the identical quarter of the earlier yr. GDP Annual Progress Fee in Mexico averaged 2.07 % from 1994 till 2023, reaching an all time excessive of 21.90 % within the second quarter of 2021 and a document low of -20.70 % within the second quarter of 2020. This web page offers – Mexico GDP Annual Progress Fee – precise values, historic knowledge, forecast, chart, statistics, financial calendar and information. Mexico GDP Annual Progress Fee – knowledge, historic chart, forecasts and calendar of releases – was final up to date on November of 2023.

The Gross Home Product (GDP) in Mexico expanded 3.30 % within the third quarter of 2023 over the identical quarter of the earlier yr. GDP Annual Progress Fee in Mexico is predicted to be 2.70 % by the top of this quarter, in keeping with Buying and selling Economics international macro fashions and analysts expectations. Within the long-term, the Mexico GDP Annual Progress Fee is projected to development round 1.60 % in 2024 and 1.80 % in 2025, in keeping with our econometric fashions.

Mexico is the second largest economic system in Latin America. The nation has an export-oriented economic system: greater than 90 % of commerce is underneath free commerce agreements. In Mexico, companies account for 62 % of whole GDP. The most important segments inside companies are: wholesale and retail commerce (16 %); actual property (10 %); transport, warehousing and communications (7 %) and monetary companies and insurance coverage (6 %). Trade constitutes 18 % of output and the most important segments inside this sector are: car trade (Four % of whole GDP) and meals trade (3.eight %). The remaining share is split by: development, water, fuel and electrical energy distribution (eight %), mining (5 %), authorities (Four % ) and agriculture, forestry, fishing and looking (Three %).