The Mexican economy grew 12.1% on quarter in the three months to September 2020, slightly above a preliminary reading of a 12% expansion and recovering from a downwardly revised record 17 percent contraction in the previous period. It was the sharpest growth rate since series began, amid the ongoing easing of coronavirus restrictions. Industrial activity expanded 21.7%, rebounding from a 23.3% plunge in the prior quarter, namely manufacturing (31.5% vs -26%), construction (21.8% vs -31.1%) and mining (2.4% vs -9.2%). Additionally, the services sector advanced 8.8%, recovering from a 15.1% slump, of which retail trade (29.8% vs -27.8%), wholesale trade (15.5% vs -17.7%), culture, recreation and sports services (61.5% vs -74.2%), hotels & restaurants (58.5% vs -67.5%) and transport & storage (22.4% vs -37%). Also, the primary sector grew 8%, faster than a 0.5% expansion in Q2. Year-on-year, the country’s gross domestic product contracted 8.6%, following a record 18.7% slump in the Q2. source: Instituto Nacional de Estadística y Geografía (INEGI)

GDP Growth Rate in Mexico averaged 0.50 percent from 1993 until 2020, reaching an all time high of 12.10 percent in the third quarter of 2020 and a record low of -17 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 December of 2020.

GDP Growth Rate in Mexico is expected to be 0.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Mexico to stand at 1.10 in 12 months time. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.10 percent in 2021 and 0.80 percent in 2022, according to our econometric models.

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Mexico GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
12.10 -17.00 12.10 -17.00 1993 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-07-30 11:00 AM QoQ Prel Q2 -17.3% -1.2% -17.8% -18%
2020-08-26 11:00 AM QoQ Final Q2 -17.1% -1.2% -17.3%
2020-10-30 12:00 PM QoQ Prel Q3 12% -17.1% 11.9% 12%
2020-11-26 12:00 PM QoQ Final Q3 12.1% -17% 12% 12%
2021-01-29 12:00 PM QoQ Prel Q4 12.1%
2021-02-25 12:00 PM QoQ Final Q4
2021-04-30 11:00 AM QoQ Prel Q1
2021-05-26 11:00 AM QoQ Final Q1
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Mexico Economy Expands at Record Pace in Q3
The Mexican economy grew 12.1% on quarter in the three months to September 2020, slightly above a preliminary reading of a 12% expansion and recovering from a downwardly revised record 17 percent contraction in the previous period. It was the sharpest growth rate since series began, amid the ongoing easing of coronavirus restrictions. Industrial activity expanded 21.7%, rebounding from a 23.3% plunge in the prior quarter, namely manufacturing (31.5% vs -26%), construction (21.8% vs -31.1%) and mining (2.4% vs -9.2%). Additionally, the services sector advanced 8.8%, recovering from a 15.1% slump, of which retail trade (29.8% vs -27.8%), wholesale trade (15.5% vs -17.7%), culture, recreation and sports services (61.5% vs -74.2%), hotels & restaurants (58.5% vs -67.5%) and transport & storage (22.4% vs -37%). Also, the primary sector grew 8%, faster than a 0.5% expansion in Q2. Year-on-year, the country’s gross domestic product contracted 8.6%, following a record 18.7% slump in the Q2.
2020-11-26
Mexico Q3 GDP Rebounds at Record Pace
The Mexican economy grew 12 percent on quarter in the three months to September 2020, recovering from a record 17.1 percent contraction in the previous period and beating market expectations of an 11.9 percent expansion. It was the sharpest growth rate since series began, amid the ongoing easing of coronavirus restrictions. Industrial activity expanded 22 percent, rebounding from a 23.4 percent plunge in the second quarter of the year; the services sector advanced 8.6 percent, recovering from a 15.1 percent slump. Also, the primary sector grew 7.4 percent, after shrinking 2 percent in the prior period. Year-on-year, the country’s gross domestic product contracted 8.6 percent, following a record 18.7 percent slump in the second quarter of the year and compared with forecasts of an 8.7 percent decline.
2020-10-30
Mexican Economy Shrinks the Most on Record
The Mexican economy shrank 17.1% on quarter in the three months to June 2020, below a preliminary reading of a 17.3% plunge and after a 1.2% fall in the previous period. It was the steepest contraction on record, amid lockdowns restrictions due to the coronavirus pandemic. Industrial activity tumbled 23.4%, after dropping 1.1% in the prior quarter, namely manufacturing (-26.4% vs -1.8%), construction (-31% vs -0.4%) and mining (-9.4% vs 2.5%). In addition, the services sector contracted 15.1%, faster than a 0.9% fall, in particular retail trade (-27.5% vs -2.1%), wholesale trade (-18% vs -1.6%), culture, recreation and sports services (-72.8% vs -14.1%), hotels & restaurants (-67.5% vs -11%) and transport & storage (-36.7% vs -2.3%). Also, the primary sector shrank 2 percent, after expanding 0.8 percent in the first three months of the year. Year-on-year, the country’s gross domestic product plunged 18.7%, the most on record, following a downwardly revised 1.3% drop in Q1.
2020-08-26
Mexican Economy Contracts the Most on Record
The Mexican economy shrank 17.3 percent on quarter in the three months to June 2020, following a 1.2 percent contraction in the previous period and compared with market forecasts of a 17.8 percent plunge, a preliminary estimate showed. It was the steepest contraction on record, amid lockdowns restrictions due to the coronavirus pandemic. Industrial activity plunged 23.6 percent, after dropping 1.2 percent in the prior quarter; and the services sector contracted 14.5 percent, faster than a 0.9 percent fall. Additionally, the primary sector shrank 2.5 percent, after expanding 1.7 percent in the first three months of the year. Year-on-year, the country’s gross domestic product slumped 18.9 percent, the most on record, following a 1.4 percent contraction in Q1 and compared with market consensus of a 19.2 percent plunge.
2020-07-30

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).