1 Growth for 2020 is forecast to be 1.1 percent.
The consensus GDP growth forecast for 2019, compiled by Banco de México, remained at 0.0 percent in December. Mexico’s gross domestic product (GDP) declined 0.2 percent through third quarter 2019. And the economy has recently faced fresh headwinds due to a resurgence in COVID-19 cases.ĭuring the second half of 2020, the economy made up much of the ground lost to the pandemic, and an unexpectedly robust performance in the October-December period helped lift the peso against the dollar early on Friday.īut the economy remains a major challenge for President Andres Manuel Lopez Obrador, whose efforts to strengthen the state’s hand in the energy market have led to disputes with businesses and upset Mexico’s allies, chilling investment. Mexico’s gross domestic product (GDP) declined 0.2 percent through third quarter 2019. Still, the contraction was the sharpest since 1932 during the Great Depression, data published by the National Autonomous University of Mexico (UNAM) show. The fall was slightly shallower than the consensus forecast in a Reuters poll for an 8.8% decline. Gross domestic product in Latin America’s second-biggest economy tumbled by 8.5% last year in seasonally adjusted terms, according to the estimate issued by national statistics agency INEGI. Private-sector analysts raised their estimate for Mexicos 2023 economic growth and lowered forecasts for headline. The institute said growth was spurred by an expansion in industry and services, which offset a 3.
For 2024, analysts downgraded expected growth in Mexicos GDP from 1.8 percent to 1. MEXICO CITY (AP) Mexico’s economy grew by 1.1 in the first quarter of 2023, bringing growth to an annualized rate of 3.8 compared to the same period of 2022, Mexico’s National Statistics Institute said Friday. The exchange rate at the end of 2019 closed at 18.90 pesos per dollar when in 2018 it closed at 19.66. 2 days ago &0183 &32 MEXICO CITY, May 2 (Xinhua) - Private-sector financial analysts upgraded Mexicos economic growth forecast for 2023 from 1.4 percent to 1.6 percent, a survey by the Bank of Mexico (Banxico) showed on Tuesday. Exports were 289.5 billion imports were 387.8 billion. goods and services trade with Mexico totaled an estimated 677.3 billion in 2019. Workers are seen in a building undergoing construction at Mexico City, Mexico January 30, 2020. The lowest the dollar fell against the peso was about 18.75, and the highest rate was 20.15 pesos per dollar, making it the smallest range between minimum and maximum rates in 10 years. U.S.-Mexico Trade Facts In 2019, Mexico GDP was an estimated 1.3 trillion (current market exchange rates) real GDP was up by an estimated 0.1 and the population was 126 million.
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