Mexico’s gross domestic product shrank 4.5 percent year-on-year in the fourth quarter of 2020, following an 8.6 percent slump in the previous period and compared with market expectations of a 5.5 percent decline, a preliminary estimate showed. The industrial sector contracted 3.3 percent, less than a 8.8 percent slump in the third quarter; and the services sector shrank 5.1 percent, after declining 8.8 percent. Meanwhile, the primary sector rose 4.8 percent, slowing from a 7.7 percent advance in the prior period. On a quarterly basis, the country's economy grew 3.1 percent, decelerating sharply from a 12.1 percent growth in the previous quarter but beating market consensus of a 2.8 percent rise. Mexico’s economy likely plunged 8.3% in 2020, its biggest annual contraction since the Great Depression in the 1930s. source: Instituto Nacional de Estadística y Geografía (INEGI)
GDP Annual Growth Rate in Mexico averaged 1.99 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 February of 2021.
GDP Annual Growth Rate in Mexico is expected to be -2.00 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 4.60 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 2.20 percent in 2022, according to our econometric models.