The Mexican GDP expanded by 0.1% from the previous quarter in the three months ending in December of 2023, holding the 1.1% jump in the earlier period and consistent with preliminary estimates. It was the ninth consecutive quarter of expansion in the Mexican economy, albeit the slowest, underscoring some resilience to the extended period of record-high interest rates from Banxico. Growth in the period was entirely driven by services, adding 0.3% in the quarter to extend the 0.9% expansion in the earlier period. This was enough to offset the 1% contraction in primary activities and 0.1% downtick in secondary activities. From the corresponding period of the previous year, the Mexican GDP expanded by 2.5% in the fourth quarter, marking a 3.2% expansion for the full year of 2023. source: Instituto Nacional de Estadística y Geografía (INEGI)

The Gross Domestic Product (GDP) in Mexico expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Mexico averaged 0.53 percent from 1993 until 2023, reaching an all time high of 15.50 percent in the third quarter of 2020 and a record low of -19.10 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 April of 2024.

The Gross Domestic Product (GDP) in Mexico expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Mexico is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico GDP Growth Rate is projected to trend around 1.00 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-01-30 12:00 PM QoQ Prel Q4 0.1% 1.1% 0.4% 0.4%
2024-02-22 12:00 PM QoQ Final Q4 0.1% 1.1% 0.1% 0.1%
2024-04-30 12:00 PM QoQ Prel Q1 0.1% 0.4%


Related Last Previous Unit Reference
Full Year GDP Growth 3.20 3.90 percent Dec 2023
GDP Growth Rate YoY 2.50 3.50 percent Dec 2023
GDP Constant Prices 25214967.00 25194127.00 MXN Million Dec 2023
GDP from Agriculture 1006430.21 768432.64 MXN Million Dec 2023
GDP from Construction 1613296.00 1594039.00 MXN Million Dec 2023
GDP from Manufacturing 5176776.00 5287549.00 MXN Million Dec 2023
GDP from Mining 980854.00 976902.00 MXN Million Dec 2023
GDP from Public Administration 873646.09 823894.18 MXN Million Dec 2023
GDP from Services 15138839.07 14751609.30 MXN Million Dec 2023
GDP from Transport 1818383.00 1824966.00 MXN Million Dec 2023
GDP from Utilities 333715.00 366730.00 MXN Million Dec 2023
GDP Growth Rate 0.10 1.10 percent Dec 2023
Gross Fixed Capital Formation 6448469.00 6440232.00 MXN Million Dec 2023

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).
Actual Previous Highest Lowest Dates Unit Frequency
0.10 1.10 15.50 -19.10 1993 - 2023 percent Quarterly
SA

News Stream
Mexican GDP Growth Confirmed at 0.1%
The Mexican GDP expanded by 0.1% from the previous quarter in the three months ending in December of 2023, holding the 1.1% jump in the earlier period and consistent with preliminary estimates. It was the ninth consecutive quarter of expansion in the Mexican economy, albeit the slowest, underscoring some resilience to the extended period of record-high interest rates from Banxico. Growth in the period was entirely driven by services, adding 0.3% in the quarter to extend the 0.9% expansion in the earlier period. This was enough to offset the 1% contraction in primary activities and 0.1% downtick in secondary activities. From the corresponding period of the previous year, the Mexican GDP expanded by 2.5% in the fourth quarter, marking a 3.2% expansion for the full year of 2023.
2024-02-22
Mexican GDP Growth Revised Higher
The Mexican economy expanded by 1.1% from the previous quarter on the three months ending in September of 2023, surpassing both the preliminary estimates and the previous quarter's growth rate of 0.9%. It was the eighth consecutive quarter of expansion in the Mexican economy at the sharpest pace in one year, extending the period of resilience to the Bank of Mexico’s aggressive tightening cycle and justifying the central bank’s hawkish outlook. Growth was led by the primary sector (2.6%). Output also expanded for manufacturing (1.3%) and services (0.9%). From the corresponding period of the previous year, the Mexican GDP expanded by 3.3%.
2023-11-24
Mexican GDP Expands More than Expected
The Mexican economy expanded by 0.9% quarter-on-quarter in the three months ending September of 2023, accelerating from the 0.8% growth rate in the previous quarter and above market expectations of 0.8%, according to preliminary estimates. It was the eighth consecutive quarter of expansion in the Mexican economy, at the sharpest pace in one year, extending the period of resilience to the Bank of Mexico’s aggressive tightening cycle and adding leeway for the central bank to prolong its hawkish outlook. Growth was the highest for agricultural, forestry, and fishing (3.2%), followed by manufacturing (1.4%) and services (0.6%). On a yearly basis, the Mexican GDP expanded by 3.3%.
2023-10-31