Mexico’s gross domestic product shrank 8.6 percent year-on-year in the third quarter of 2020, following a record 18.7 percent slump and matching a preliminary estimate, amid the easing of coronavirus lockdown restrictions. The industrial sector shrank 8.8%, less than a 25.5% plunge in Q2, of which manufacturing (-7.1% vs -29.5%), construction (-17.5% vs -34%) and mining (-3.3% vs -4.4%). Also, services activities contracted 8.8%, after tumbling 16.3%, in particular retail trade (-8.5% vs -29.2%), wholesale trade (-9.4% vs -21.6%), hotels & restaurants (-53.6% vs -70.6%), culture, recreation and sports services (-64.9% vs -78.4%) and transport & storage (-24.9% vs -39.7%). In addition, the primary sector grew 7.7%, rebounding from a 1.5% contraction in the prior period. On a quarterly basis, the country’s economy expanded 12.1%, the most since series began, above a flash reading of a 12% growth and recovering from a record downwardly revised 17% slump in Q2. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Annual Growth Rate in Mexico averaged 2.05 percent from 1994 until 2020, reaching an all time high of 9 percent in the fourth quarter of 1996 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 December of 2020.
GDP Annual Growth Rate in Mexico is expected to be -6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Mexico to stand at 8.00 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 4.60 percent in 2021 and 2.20 percent in 2022, according to our econometric models.