Mexico GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Mexico expanded 0.70 percent in the fourth quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Mexico is reported by the Instituto Nacional de Estadística y Geografía (INEGI). GDP Annual Growth Rate in Mexico averaged 2.59 Percent from 1994 until 2013, reaching an all time high of 8.50 Percent in the second quarter of 1997 and a record low of -8.10 Percent in the second quarter of 1995. Mexico is the second largest economy in Latin America. The service sector is the most important and accounts for 62 percent of total GDP. The biggest segments within services are: wholesale and retail trade (16 percent of total GDP); real estate (10 percent); transport, warehousing and communications (7 percent) and financial services and insurance (6 percent). Industry constitutes 18 percent of the output and the largest segments within this sector are: automobile industry (4 percent of total GDP) and food industry (3.8 percent). Construction, water, gas and electricity distribution creates 8 percent of the wealth and mining 5 percent. The government fuels 4 percent of the GDP and the agriculture, forestry, fishing and hunting sector accounts for the remaining 3 percent of the output. This page provides - Mexico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-16

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.70 1.40 8.50 -8.10 1.11 | 2014/03 1994 - 2013 Percent Quarterly

TO

Mexico GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-05-17 02:00 PM Mexico
GDP Growth Rate YoY
Q1 2013 0.80% 3.2% 1.7%
2013-08-20 02:00 PM Mexico
GDP Growth Rate YoY
Q2 2013 1.50% 0.60% (R) 1% 0.11%
2013-11-21 02:00 PM Mexico
GDP Growth Rate YoY
Q3 2013 1.30% 1.60% (R) 1.0% 1.13%
2014-02-21 02:00 PM Mexico
GDP Growth Rate YoY
Q4 2013 0.7% 1.4% (R) 1.1% 1.5%
2014-05-23 02:00 PM Mexico
GDP Growth Rate YoY
Q1 2014 0.7% 1.11%
2014-08-21 02:00 PM Mexico
GDP Growth Rate YoY
Q2 2014 1.12%
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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 13483399.19 2014-03-31 MXN Million [+]
Gross Fixed Capital Formation 2858437.00 2013-11-15 2854511.00 2981029.00 1135833.00 2806371.06 2014-03-31 MXN Million [+]
GDP per capita 8250.87 2012-12-31 8038.15 8250.87 3250.99 8355.86 2013-12-31 USD [+]
GDP per capita PPP 12616.64 2012-12-31 12291.37 12616.64 9309.83 12936.53 2013-12-31 USD [+]
GDP Annual Growth Rate 0.70 2013-12-31 1.40 8.50 -8.10 1.11 2014-03-31 Percent [+]
GDP Growth Rate 0.18 2013-12-31 0.95 2.90 -6.60 -0.04 2014-03-31 Percent [+]
GDP 1177.30 2012-12-31 1158.20 1177.30 13.10 1237.57 2013-12-31 USD Billion [+]
[+]


Mexico GDP Growth Disappoints in Q4

In the last three months of 2013, Mexican economy slowed for the second straight quarter expanding only 0.7 percent over a year earlier, hurt by lower production in agriculture and mining.

The primary sector contracted 0.3 percent year-on-year, hurt by lower production of sugar, maize, mango, onions and oranges. 

The secondary sector shrank for the fourth straight quarter by 0.4 percent. Growth in manufacturing production (1.9 percent) and in electricity and water supply (0.8 percent) was not enough to offset a drop in construction (-4.6 percent) and mining output (-0.9 percent). 

The tertiary sector was the main source of growth but rose at a slower rate (1.3 percent). Support services recorded the highest expansion (2.8 percent), followed by the retail sector (2.4 percent). 

For full 2013, the GDP expanded at a significantly lower 1.1 percent, down from 3.9 percent in 2012.

Joana Taborda | joana.taborda@tradingeconomics.com
2/21/2014 2:26:50 PM

RECENT RELEASES

Mexican GDP Growth Beats Expectations in Q3
In the third quarter of 2013, Mexican economy expanded at a faster-than-expected 1.3 percent over a year earlier, as growth in manufacturing accelerated, partially offsetting a slowdown in agricultural production. Last quarter, the GDP advanced an annual 1.6 percent. Published on 2013-11-21

Mexico GDP Expands 1.5% YoY in Q2
In the second quarter of 2013, Mexican GDP grew 1.5 percent year-on-year, up from 0.6 percent in the previous three-month period, but slower from 4.2 percent recorded a year earlier. Published on 2013-08-20


GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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