Markets Actual Q1 Q2 Q3 Q4 2021
Currency 19.27 18.98 19.12 19.26 19.39 19.66
Stock Market (points) 42737.28 43623 43142 42670 42198 41254
Government Bond 10Y (%) 6.51 6.7 6.77 6.84 6.92 7.07

Overview Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) -0.10 0.6 0.5 1 0.9 0.8
GDP Annual Growth Rate (%) -0.50 -0.7 0.9 1.5 1.1 1.6
Unemployment Rate (%) 2.90 3.3 3.4 3.7 3.8 4
Inflation Rate (%) 3.24 3.5 3.5 3.7 3.5 3.4
Inflation Rate Mom (%) 0.48 0.3 0.2 0.4 0.5 0.5
Interest Rate (%) 7.00 7 7 6.75 6.5 6
Balance of Trade (USD Million) 3068.29 -2200 -1500 900 1000 1000
Current Account (USD Million) 2486.50 -6000 -4200 -3900 -3700 -4500
Current Account to GDP (%) -0.20 -0.5 -0.5 -0.5 -0.5 -1
Government Debt to GDP (%) 46.00 47 47 47 47 48
Government Budget (% of GDP) -2.00 -2.6 -2.6 -2.6 -2.6 -2.4
Business Confidence (points) 48.80 50.2 50.5 50.7 51 51.7
Manufacturing PMI (points) 49.00 49.5 50.9 50.3 48.8 49.5
Consumer Confidence (points) 44.20 45.3 43.6 44 45 46.5
Retail Sales MoM (%) -0.40 0.4 0.2 0.5 0.7 0.5
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q1 Q2 Q3 Q4 2021
GDP Growth Rate (%) -0.10 0.6 0.5 1 0.9 0.8
GDP Annual Growth Rate (%) -0.50 -0.7 0.9 1.5 1.1 1.6
GDP (USD Billion) 1220.70 1230 1230 1230 1230 1280
GDP Constant Prices (MXN Million) 18506693.00 18517545 18605304 18644891 18756203 19056303
Gross Fixed Capital Formation (MXN Million) 3516287.00 3714478 3605291 3533868 3554966 3611846
GDP per capita (USD) 10385.30 10500 10500 10500 10500 10600
GDP per capita PPP (USD) 18101.90 18450 18450 18450 18450 18450
GDP From Agriculture (MXN Million) 710163.16 575862 617544 515601 518679 526978
GDP From Construction (MXN Million) 1196316.00 1307474 1229385 1191781 1198896 1218079
GDP From Manufacturing (MXN Million) 2888465.00 2929176 2975287 3020742 3038776 3087396
GDP From Mining (MXN Million) 849409.00 856668 839224 858085 863208 877019
GDP From Public Administration (MXN Million) 722438.28 699540 729452 686489 690588 701637
GDP From Services (MXN Million) 12149865.91 11514575 11811168 11711059 11780976 11969472
GDP From Transport (MXN Million) 1212983.00 1182804 1231272 1225728 1233046 1252775
GDP From Utilities (MXN Million) 295892.00 265952 296803 321248 323166 328337

Labour Actual Q1 Q2 Q3 Q4 2021
Unemployment Rate (%) 2.90 3.3 3.4 3.7 3.8 4
Employed Persons 55683450.00 55500000 55300000 55200000 55300000 55500000
Unemployed Persons 1942071.00 2200000 2220000 2250000 22800000 22800000
Labor Force Participation Rate (%) 60.20 60.3 60.5 60.2 60.2 60.4
Productivity (points) 91.80 96 94 90 91 94
Wages (MXN/Day) 396.18 390 394 392 397 419
Wages in Manufacturing (USD/Hour) 2.70 2.8 2.7 2.7 3.3 3.2
Minimum Wages (MXN/Day) 123.22 123 123 123 123 143
Population (Million) 125.33 126 126 126 128 129
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Wages High Skilled (MXN/Month) 17200.00 17000 17000 17000 17800 18400
Wages Low Skilled (MXN/Month) 5390.00 5600 5600 5600 5800 5900
Living Wage Family (MXN/Month) 7900.00 8450 8450 8450 8500 8600
Living Wage Individual (MXN/Month) 4320.00 4600 4600 4600 4600 4600
Employment Rate (%) 97.09 96.4 96.2 96.1 96.1 96

Prices Actual Q1 Q2 Q3 Q4 2021
Inflation Rate (%) 3.24 3.5 3.5 3.7 3.5 3.4
Inflation Rate Mom (%) 0.48 0.3 0.2 0.4 0.5 0.5
Consumer Price Index CPI (points) 106.45 107 107 108 110 113
Core Consumer Prices (points) 105.58 106 107 108 109 112
Core Inflation Rate (%) 3.73 3.5 3.5 3.4 3.4 3.2
Producer Prices (points) 99.87 101 102 102 102 105
Producer Prices Change (%) 0.60 2.1 2.5 2.4 2.5 2.3
Inflation Expectations (Percent) 3.45 3.88 3.88 3.83 3.83 3.87
CPI Transportation (points) 105.61 108 108 108 109 113
Food Inflation (%) 3.37 3.4 3.3 3.2 3.4 3.2

Money Actual Q1 Q2 Q3 Q4 2021
Interest Rate (%) 7.00 7 7 6.75 6.5 6
Interbank Rate (%) 7.53 7.7 7.7 7.7 7.7 7.2
Foreign Exchange Reserves (USD Million) 183028.00 180000 178500 179100 182000 182000
Banks Balance Sheet (MXN Million) 8266378.52 8280000 8200000 8450000 8530350 8530350
Deposit Interest Rate (%) 3.12 3.22 3.22 3.22 3.22 2.72
Central Bank Balance Sheet (MXN Thousand) 3820215079.00 3865083765 3860478578 3900000000 4000000000 4200000000

Trade Actual Q1 Q2 Q3 Q4 2021
Balance of Trade (USD Million) 3068.29 -2200 -1500 900 1000 1000
Current Account (USD Million) 2486.50 -6000 -4200 -3900 -3700 -4500
Current Account to GDP (%) -0.20 -0.5 -0.5 -0.5 -0.5 -1
Imports (USD Million) 35594.97 39400 39500 36600 39000 39500
Exports (USD Million) 38663.25 38600 38000 37500 40000 41000
External Debt (USD Million) 449495.50 461000 461000 467000 468000 468000
Foreign Direct Investment (USD Million) 4755.60 11000 7000 6500 6850 6950
Remittances (USD Million ) 9107.05 7800 8200 8500 8400 8500
Tourism Revenues (USD Thousand) 2480978.55 2360000 2100000 1700000 2300000 2450000
Tourist Arrivals (Thousand) 2715.18 2200 2100 1350 2800 2600
Gold Reserves (Tonnes) 120.06 120 120 120 120 120
Capital Flows (USD Million) -10.40 -24 -15 -20 -30 -35
Auto Exports (Thousand Units) 228.18 320 310 290 300 310

Government Actual Q1 Q2 Q3 Q4 2021
Government Debt to GDP (%) 46.00 47 47 47 47 48
Government Budget (% of GDP) -2.00 -2.6 -2.6 -2.6 -2.6 -2.4
Government Budget Value (MXN Million) -231183.70 -280000 -280000 -380000 -295000 -310000
Government Spending (MXN Million) 2107792.00 2138955 2174919 2118331 2130978 2165073
Government Revenues (MXN Million) 473438.10 445000 430000 412000 450000 450000
Fiscal Expenditure (MXN Million) 477710.90 485000 560000 490000 745000 735000
Military Expenditure (USD Million) 6375.00 7000 7000 7000 7000 6900

Taxes Actual Q1 Q2 Q3 Q4 2021
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35
Sales Tax Rate (%) 16.00 16 16 16 16 16
Social Security Rate (%) 9.23 9.23 9.23 9.23 9.23 9.23
Social Security Rate For Companies (%) 7.58 7.58 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.65 1.65 1.65 1.65 1.65

Business Actual Q1 Q2 Q3 Q4 2021
Business Confidence (points) 48.80 50.2 50.5 50.7 51 51.7
Manufacturing PMI (points) 49.00 49.5 50.9 50.3 48.8 49.5
Industrial Production (%) -1.00 1.3 1.5 1.6 1.8 1.6
Industrial Production Mom (%) -0.30 0.2 0.4 0.1 0.2 0.3
Manufacturing Production (%) -0.50 1 1.3 1.5 1.7 2.2
Total Vehicle Sales 78585.00 68000 66000 64000 68000 80000
Car Production (Thousand Units) 320.41 358 360 330 360 370
Car Registrations 78585.00 83500 84000 82000 85000 86000
Leading Economic Index (%) 0.70 1.2 1.5 1.7 1.6 2
Private Investment (%) -3.50 2 2.5 2.1 2.3 2.3
Mining Production (%) 0.40 0.5 -1.5 -3 -4.5 -7

Consumer Actual Q1 Q2 Q3 Q4 2021
Consumer Confidence (points) 44.20 45.3 43.6 44 45 46.5
Retail Sales MoM (%) -0.40 0.4 0.2 0.5 0.7 0.5
Retail Sales YoY (%) 3.20 3.4 3 2.8 3.2 3.4
Consumer Spending (MXN Million) 12638007.00 12093501 12350133 12701197 12777025 12981457
Personal Savings (%) 21.20 22 22 22 22 22
Consumer Credit (MXN Million) 1435102.90 1396108 1426412 1442278 1450889 1474103
Gasoline Prices (USD/Liter) 1.01 0.92 0.94 0.96 1 1
Households Debt To GDP (% of GDP) 16.30 16.52 16.57 16.68 16.68 16.68

Housing Actual Q1 Q2 Q3 Q4 2021
Construction Output (%) -4.50 -5 -3.2 -1 1.5 2.5


This page has economic forecasts for Mexico including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Mexico economy.