Mexico’s GDP achieves growth of 0.9% during the third quarter of 2022

During the period July-September 2022, the mexican economy achieved a real expansion of 0.9% compared to the previous quarter, this small jump was driven by a good performance in primary activities and an advance also in tertiary activities.

The GDP of Mexico It would be adding four quarters in a row in positive territory, according to the data released by the Inegi (National Institute of Statistics and Geography).

In this period, the GDP of primary activities -which include agriculture, livestock, fishing, hunting and forest exploitation- registered a growth of 2.2% in real terms.

On the other hand, tertiary activities were the second group with the best results. Included in this are trade and services, which grew 1.1% in this period. The behavior of this sector is essential for the national economy; it contributes about 65% to the total GDP.

With positive numbers, but more modest, the GDP of secondary activities -mining, electricity, water and gas, manufacturing and construction- showed an expansion of 0.6 percent.

These figures also reflect a greater dynamism of the Mexican economy, particularly in the second half of 2022, which is in line with the projections for the end of the year.

In the year-on-year analysis, Mexico’s GDP registered growth of 4.3% in real terms. In 2022, compared to 2021, commerce and services are the sectors that have recovered more pronouncedly due to the reopening of practically all social, recreational, tourist, and cultural activities.

Specialists and financial institutions, national and international, project that the GDP of Mexico It will register a growth of between 1.8 and 2.4% in 2022.