The gross domestic product in Mexico advanced 1.7 percent year-on-year in the fourth quarter of 2018, below an earlier estimate of 1.8 percent and compared to a 2.5 percent growth in the previous period. Figures also came worse than market expectations of a 1.8 percent rise. It is the weakest growth in three quarters, as services slowed and the industrial sector contracted. GDP Annual Growth Rate in Mexico averaged 2.48 percent from 1994 until 2018, reaching an all time high of 9 percent in the fourth quarter of 1996 and a record low of -9.10 percent in the second quarter of 1995.

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 1.50 in 12 months time. In the long-term, the Mexico GDP Annual Growth Rate is projected to trend around 1.10 percent in 2020, according to our econometric models.

Mexico GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-30 02:00 PM GDP Growth Rate YoY Prel 2.6% 2.6% 2.4%
2018-11-23 02:00 PM GDP Growth Rate YoY Final 2.5% 2.6% 2.6% 2.6%
2019-01-30 02:00 PM GDP Growth Rate YoY Prel 1.8% 2.5% 2.6% 2.2%
2019-02-25 02:00 PM GDP Growth Rate YoY Final 1.7% 2.5% 1.8% 2.3%
2019-04-30 01:00 PM GDP Growth Rate YoY Prel 1.7% 2%
2019-05-24 01:00 PM GDP Growth Rate YoY Final 2%
2019-07-31 01:00 PM GDP Growth Rate YoY Prel 1.9%



Mexico GDP Annual Growth Revised Down to 1.7% in Q4

The gross domestic product in Mexico advanced 1.7 percent year-on-year in the fourth quarter of 2018, below an earlier estimate of 1.8 percent and compared to a 2.5 percent growth in the previous period. Figures also came worse than market expectations of a 1.8 percent rise. It is the weakest growth in three quarters, as services slowed and the industrial sector contracted.

Services expanded 2.7 percent in the fourth quarter of 2018, below a preliminary reading of 2.9 percent and slowing from a downwardly revised 3.1 percent increase in the previous period. Growth slowed in: retail trade (3.1 percent vs 5.5 percent); transport and storage (2.2 percent vs 3.4 percent); real estate activities (2.1 percent vs 2.2 percent); business services (3.5 percent vs 5.5 percent); health care & social assistance (2.0 percent vs 3.3 percent); cultural and sports activities (0.2 percent vs 1.9 percent) and food & accomodation services (0.3 percent vs 0.7 percent). In addition, corporate services posted a decline (-1.1 percent vs 0.7 percent). Conversely, stronger rises were seen in information & communication (8.5 percent vs 4.4 percent); finance and insurance (9.0 percent vs 8.3 percent) and professional, scientific and technical services (4.1 percent vs 3.1 percent).

The industrial sector shrank 0.9 percent, more than an initial estimate of a 0.7 percent contraction and against a 1.1 percent expansion in the previous period. Manufacturing activity rose 1.5 percent, slowing from a 2.3 percent increase in Q3 and the utilities sector expanded at a softer 1.4 percent compared to a 4.2 percent surge in the prior quarter. Concomitantly, declines were seen in mining (-7.3 percent vs -3.1 percent) mainly due to oil (-8.2 percent vs -3.3 percent); and construction (-2.2 percent vs 0.8 percent).

In contrast, the agricultural sector grew 3 percent, above a preliminary figure of 2.8 percent and a downwardly revised 2.0 percent rise in the third quarter.

On a quarterly basis, the economy advanced 0.2 percent, as expected, compared to a preliminary figure of 0.3 percent and easing from a downwardly revised 0.6 percent expansion in Q3. 

Considering the full year of 2018, the Mexican GDP grew 2.0 percent, unchanged from the initial estimate, but below 2.1 percent in 2017.


INEGI | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
2/25/2019 3:21:41 PM



Mexico GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.60 3.20 -5.70 percent [+]
GDP Annual Growth Rate 1.70 2.50 9.00 -9.10 percent [+]
GDP 1149.92 1076.91 1314.39 13.04 USD Billion [+]
GDP Constant Prices 18614517.00 18568290.00 18614517.00 9736483.00 MXN Million [+]
Gross Fixed Capital Formation 3751715.65 3778904.08 3839534.10 1475314.61 MXN Million [+]
GDP per capita 9946.16 9871.67 9946.16 3047.11 USD [+]
GDP per capita PPP 17336.47 17206.63 17336.47 10456.94 USD [+]
GDP From Agriculture 711166.10 490607.15 711166.10 326544.91 MXN Million [+]
GDP From Construction 1304744.00 1290048.00 1349021.00 616361.00 MXN Million [+]
GDP From Manufacturing 2936747.00 2964295.00 2964295.00 1579762.00 MXN Million [+]
GDP From Mining 849324.00 894981.00 1339290.00 849324.00 MXN Million [+]
GDP From Public Administration 716017.67 686645.27 747616.63 552862.50 MXN Million [+]
GDP From Services 12146159.32 11623933.11 12146159.32 5606905.89 MXN Million [+]
GDP From Transport 1224615.00 1207871.00 1224615.00 557632.00 MXN Million [+]
GDP From Utilities 268315.00 295364.00 295364.00 93738.00 MXN Million [+]


Mexico GDP Annual Growth Rate

Mexico is the second largest economy in Latin America. The country has an export-oriented economy: more than 90 percent of trade is under free trade agreements. 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). This page provides - Mexico GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Mexico GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 2.50 9.00 -9.10 1994 - 2018 percent Quarterly
NSA




Country Last Previous
India 6.60 Dec/18
China 6.40 Dec/18
Indonesia 5.18 Dec/18
South Korea 3.10 Dec/18
United States 3.10 Dec/18
Saudi Arabia 2.50 Sep/18
Spain 2.40 Dec/18
Australia 2.30 Dec/18
Netherlands 2.00 Dec/18
Singapore 1.90 Dec/18
Mexico 1.70 Dec/18
Canada 1.60 Dec/18
Russia 1.50 Sep/18
Switzerland 1.40 Dec/18
United Kingdom 1.30 Dec/18
Brazil 1.10 Dec/18
Euro Area 1.10 Dec/18
South Africa 1.10 Dec/18
France 0.90 Dec/18
Germany 0.60 Dec/18
Japan 0.30 Dec/18
Italy 0.00 Dec/18
Turkey -3.00 Dec/18
Argentina -3.50 Sep/18


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