Markets Actual Q2 Q3 Q4 Q1 2022
Currency 20.12 20.13 20.27 20.41 20.56 20.85
Stock Market (points) 48748.41 48543 47456 46393 45355 43280
Government Bond 10Y (%) 7.00 6.96 7.03 7.1 7.18 7.33

Overview Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 0.40 1.3 0.8 1.1 0.7 1.1
GDP Annual Growth Rate (%) -3.80 15 8 4.6 4.8 2.7
Unemployment Rate (%) 3.90 5 4.9 4.7 4.8 4.5
Inflation Rate (%) 6.08 4.5 3.7 3.4 3.2 3
Inflation Rate Mom (%) 0.33 0.6 0.3 0.4 0.2 0.4
Interest Rate (%) 4.00 4 4 4 4.25 5
Balance of Trade (USD Million) -3003.60 -2500 1300 1000 1000 2500
Current Account (USD Million) 17408.90 -2800 -3100 -4500 -2700 -4800
Current Account to GDP (%) 2.40 0.7 0.7 0.7 -1.2 -1.2
Government Debt to GDP (%) 45.50 58 58 58 59 59
Government Budget (% of GDP) -1.60 -3.6 -3.6 -3.6 -3.5 -3.5
Business Confidence (points) 48.70 45 47 49 50.4 51
Manufacturing PMI (points) 48.40 48 49 49.5 48.3 49
Consumer Confidence (points) 42.40 36 37 38 40 42
Retail Sales MoM (%) 1.60 -0.5 0.7 1 0.7 0.6
Corporate Tax Rate (%) 30.00 30 30 30 30 30
Personal Income Tax Rate (%) 35.00 35 35 35 35 35

GDP Actual Q2 Q3 Q4 Q1 2022
GDP Growth Rate (%) 0.40 1.3 0.8 1.1 0.7 1.1
GDP Annual Growth Rate (%) -3.80 15 8 4.6 4.8 2.7
GDP (USD Billion) 1268.87 1113 1113 1113 1113 1158
GDP Constant Prices (MXN Million) 17537100.00 17377296 18342571 18343807 18378881 18839089
Gross Fixed Capital Formation (MXN Million) 2999418.00 2749570 3147703 3137391 3143390 3222101
GDP per capita (USD) 10275.63 10080 10080 10080 10080 10290
GDP per capita PPP (USD) 19746.44 19500 19500 19500 19500 19730
GDP From Agriculture (MXN Million) 727020.28 690727 572770 760463 761917 780996
GDP From Construction (MXN Million) 1071735.00 922586 1064412 1121035 1123178 1151303
GDP From Manufacturing (MXN Million) 2861697.00 2419971 3009367 2993335 2999058 3074155
GDP From Mining (MXN Million) 839119.00 924809 905731 877718 879397 901417
GDP From Public Administration (MXN Million) 722039.40 842691 763029 755253 756697 775645
GDP From Services (MXN Million) 11517895.63 11321247 11522889 12047719 12070755 12373007
GDP From Transport (MXN Million) 1029823.00 841096 992534 1077195 1079255 1106279
GDP From Utilities (MXN Million) 269816.00 299193 314243 282228 282767 289848

Labour Actual Q2 Q3 Q4 Q1 2022
Unemployment Rate (%) 3.90 5 4.9 4.7 4.8 4.5
Employed Persons 53331429.00 54900000 55100000 55300000 55250000 55300000
Unemployed Persons 2549487.00 2440000 2320000 24000000 2300000 2180000
Labor Force Participation Rate (%) 57.20 58.4 58.8 59.1 59.5 60.6
Productivity (points) 93.40 93.7 94.4 94 92 93
Wages (MXN/Day) 427.45 409 411 414 416 422
Wages in Manufacturing (USD/Hour) 2.90 2.6 2.7 3.2 2.6 3.3
Minimum Wages (MXN/Day) 141.70 142 142 142 157 157
Population (Million) 126.58 128 128 129 129 130
Retirement Age Women 65.00 65 65 65 65 65
Retirement Age Men 65.00 65 65 65 65 65
Employment Rate (%) 96.11 96.3 95.8 96.4 96 96.6

Prices Actual Q2 Q3 Q4 Q1 2022
Inflation Rate (%) 6.08 4.5 3.7 3.4 3.2 3
Inflation Rate Mom (%) 0.33 0.6 0.3 0.4 0.2 0.4
Consumer Price Index CPI (points) 112.19 112 112 113 115 116
Core Consumer Prices (points) 111.06 111 112 112 114 117
Core Inflation Rate (%) 4.13 3.8 3.5 3.6 3.1 3
Producer Prices (points) 107.98 109 108 147 108 111
Export Prices (points) 115.33 112 114 115 115 115
Import Prices (points) 244.69 231 231 232 232 233
CPI Transportation (points) 109.81 106 108 107 112 110
Food Inflation (%) 5.45 6.1 5.7 5.4 5.1 4.9
Inflation Expectations (Percent) 3.22 3.6 3.4 3.3 3.2 3
Producer Prices Change (%) 4.83 4 3.7 3.5 3.2 2.5

Money Actual Q2 Q3 Q4 Q1 2022
Interest Rate (%) 4.00 4 4 4 4.25 5
Interbank Rate (%) 4.28 4.28 4.28 4.28 4.53 4.53
Money Supply M0 (MXN Million) 2148400.10 2300000 1997000 1994000 1990000 1850000
Money Supply M1 (MXN Thousand) 5693160017.00 5700000000 5350000000 5200000000 5000000000 4900000000
Money Supply M2 (MXN Thousand) 10509325648.00 10700000000 10200000000 10100000000 10000000000 970000000
Money Supply M3 (MXN Thousand) 12463150586.00 12500000000 12250000000 11800000000 11500000000 11400000000
Foreign Exchange Reserves (USD Million) 199302.00 199000 197200 198000 197800 197000
Banks Balance Sheet (MXN Million) 9061607.00 9210000 9180000 9100000 8800000 8400000
Deposit Interest Rate (%) 0.50 0.55 0.55 2.7 0.55 1.3
Central Bank Balance Sheet (MXN Thousand) 4624937188.00 4000000000 4200000000 4700000000 4550000000 4600000000

Trade Actual Q2 Q3 Q4 Q1 2022
Balance of Trade (USD Million) -3003.60 -2500 1300 1000 1000 2500
Current Account (USD Million) 17408.90 -2800 -3100 -4500 -2700 -4800
Current Account to GDP (%) 2.40 0.7 0.7 0.7 -1.2 -1.2
Imports (USD Million) 46006.52 36700 38400 35500 36450 35500
Exports (USD Million) 43002.96 38000 37600 38000 36800 38000
External Debt (USD Million) 462504.40 463000 4650000 468000 470000 467250
Foreign Direct Investment (USD Million) 2531.40 6720 4800 6000 15000 7800
Remittances (USD Million ) 10623.27 9400 9500 9300 9400 9300
Tourism Revenues (USD Thousand) 799148.80 780000 950000 1200000 1300000 1800000
Tourist Arrivals (Thousand) 698.30 1100 1300 1700 1900 2300
Gold Reserves (Tonnes) 120.06 120 120 120 120 120
Capital Flows (USD Million) -7.80 -25 -19 -20 -20 15
Auto Exports (Thousand Units) 234.58 245 270 285 300 320
Non Oil Exports (USD Million) 40875.27 31050 34000 36000 34800 37000
Oil Exports (USD Million) 2127.69 1550 1700 1800 1940 2000

Government Actual Q2 Q3 Q4 Q1 2022
Government Debt to GDP (%) 45.50 58 58 58 59 59
Government Budget (% of GDP) -1.60 -3.6 -3.6 -3.6 -3.5 -3.5
Government Budget Value (MXN Million) 15937.10 -168000 -173000 -180000 -180000 -170000
Government Spending (MXN Million) 2238664.00 2576642 2331629 2341643 2346120 2404867
Government Revenues (MXN Million) 435231.90 515000 450000 391000 420000 400000
Fiscal Expenditure (MXN Million) 534806.70 498000 523000 512000 520000 535000
Military Expenditure (USD Million) 6300.00 6000 6000 5800 5800 5800

Taxes Actual Q2 Q3 Q4 Q1 2022
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 7.56 7.58 7.58 7.58 7.58
Social Security Rate For Employees (%) 1.65 1.5 1.65 1.65 1.65 1.65

Business Actual Q2 Q3 Q4 Q1 2022
Business Confidence (points) 48.70 45 47 49 50.4 51
Manufacturing PMI (points) 48.40 48 49 49.5 48.3 49
Industrial Production (%) 1.70 8.5 5.5 1.5 1 2
Industrial Production Mom (%) 0.70 0.3 0.2 0.3 0.2 0.3
Manufacturing Production (%) 6.22 -3 -1.8 -1.4 0.8 1.6
Capacity Utilization (%) 76.80 79 80 80.9 81 82
Total Vehicle Sales (Units) 51666.00 41700 44000 50000 52000 55000
Car Production (Thousand Units) 269.18 240 265 320 340 360
Car Registrations 51666.00 41200 43000 46000 48000 50000
Leading Economic Index (%) -5.10 -4 -3.5 -1.6 0.8 1.6
Private Investment (%) -4.50 9 6 3 1 2
Mining Production (%) -2.18 -2.5 -2 -1.5 0.3 -1.4

Consumer Actual Q2 Q3 Q4 Q1 2022
Consumer Confidence (points) 42.40 36 37 38 40 42
Retail Sales MoM (%) 1.60 -0.5 0.7 1 0.7 0.6
Retail Sales YoY (%) -6.30 8 5 3 2 2
Consumer Spending (MXN Million) 11900114.00 11250946 11901928 12447519 12471319 12783602
Personal Savings (%) 21.20 21 21 21 21 21
Consumer Credit (MXN Million) 1287666.40 1510777 1386275 1346899 1349474 1383265
Households Debt To GDP (% of GDP) 17.30 16.3 16.1 16.3 16.3 16.5
Gasoline Prices (USD/Liter) 1.01 0.91 0.87 0.89 0.78 0.74

Housing Actual Q2 Q3 Q4 Q1 2022
Construction Output (%) -4.36 -6 2.5 3.4 1.7 2


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.