Mexico GDP Growth Rate

The Gross Domestic Product (GDP) in Mexico expanded 0.18 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate in Mexico is reported by the Instituto Nacional de Estadística y Geografía (INEGI). GDP Growth Rate in Mexico averaged 0.63 Percent from 1993 until 2013, reaching an all time high of 2.90 Percent in the first quarter of 1996 and a record low of -6.60 Percent in the first quarter of 2009. Mexico is the second largest economy in Latin America. After the Peso Crisis in 1994, Mexico returned to steady growth rates, expanding on average 0.76 percent from 1996 to 2012 on a quarter over quarter basis. Mexico has an export-oriented economy: more than 90 percent of trade is under free trade agreements. In recent years, exports of manufactured products have been expanding more than 10 percent per year, mostly due to the increase in car production. Nevertheless, in order to keep the current pace of growth the country needs to reduce its dependence on the United States; increase its tax base and open the state-controlled energy sector. This page provides - Mexico GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-23

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.18 0.95 2.90 -6.60 -0.38 | 2014/06 1993 - 2013 Percent Quarterly

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Mexico GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-17 02:00 PM Mexico
GDP Growth Rate QoQ
Q1 2013 0.45% 0.77% 0.78%
2013-08-20 02:00 PM Mexico
GDP Growth Rate QoQ
Q2 2013 -0.74% 0.03% (R) 0.72%
2013-11-21 02:00 PM Mexico
GDP Growth Rate QoQ
Q3 2013 0.84% -0.55% (R) -0.06%
2014-02-21 02:00 PM Mexico
GDP Growth Rate QoQ
Q4 2013 0.2% 0.95% (R) 0.8%
2014-05-23 02:00 PM Mexico
GDP Growth Rate QoQ
Q1 2014 0.2% -0.04%
2014-08-21 02:00 PM Mexico
GDP Growth Rate QoQ
Q2 2014 -0.38%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 13469613.00 2013-11-15 13445587.00 13469613.00 7857253.00 13483488.85 2014-06-30 MXN Million [+]
Gross Fixed Capital Formation 2858437.00 2013-11-15 2854511.00 2981029.00 1135833.00 2773150.68 2014-06-30 MXN Million [+]
GDP per capita 8250.87 2012-12-31 8038.15 8250.87 3250.99 8564.96 2014-06-30 USD [+]
GDP per capita PPP 12616.64 2012-12-31 12291.37 12616.64 9309.83 13096.93 2014-06-30 USD [+]
GDP Annual Growth Rate 0.70 2013-12-31 1.40 8.50 -8.10 1.12 2014-06-30 Percent [+]
GDP Growth Rate 0.18 2013-12-31 0.95 2.90 -6.60 -0.38 2014-06-30 Percent [+]
GDP 1177.30 2012-12-31 1158.20 1177.30 13.10 1261.95 2014-06-30 USD Billion [+]
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Mexican Economy Slows in Q4

Mexico’s GDP growth slowed in the last quarter of 2013 hurt by a drop in industrial production. The economy advanced a meager 0.2 percent on a quarter-on-quarter seasonally adjusted basis, down from a revised 0.95 percent growth rate in the previous three-month period.

The primary sector recorded the highest growth rate (0.22 percent). The services sector grew 0.17 percent, hurt by tax hikes recently introduced.  

The industrial sector dropped 0.04 percent over the previous quarter, as manufacturing slowed while construction accelerated. 

Compared with the same quarter of 2012, the GDP advanced 0.7 percent, down sharply from a revised 1.4 percent in the September quarter. 

Joana Taborda | joana.taborda@tradingeconomics.com
2/21/2014 5:59:23 PM

RECENT RELEASES

Mexico’s Economy Expands 0.84% QoQ in Q3
In the third quarter of 2013, Mexican GDP rebounded at a faster-than-expected quarter-on-quarter seasonally adjusted 0.84 percent. The economy recovered from a 0.55 percent contraction in the previous three-month period, mainly due to a surge in manufacturing and services. Published on 2013-11-21

Mexican Economy Contracts 0.74% QoQ in Q2
In the second quarter of 2013, Mexico’s GDP shrank for the first time in four years by 0.74 percent quarter-on-quarter, from 0.03 percent growth in the previous three months, the national statistics agency reported on August 20th. Published on 2013-08-20


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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In January of 2014, Mexican jobless rate edged up to 5.05 percent, after falling in December last year to a 5-year low at 4.25 percent.
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