Mexico - Nominal Fixed Investment (gross fixed capital formation)

For Mexico, the quarterly national accounts, including the detailed expenditure, income, and production approaches including gross value added by industry (GDP(E), GDP(I), GDP(O), GVA), and selected institutional sector data. Annual GVA for the federal entities (states).

National accounts

Active:

• Framework: UN SNA 2008
• Classification: NAICS Mexico 2007
• Measurements:
  • Millions of Mexican pesos at constant year-2018 prices (Mil. 2018 MXN)
  • At current prices (Mil. MXN)
  • Deflator relative to 2018 (Index 2018=100)
• Adjustments:
  • Seasonally adjusted, annualized rate (SAAR)
  • Not seasonally adjusted, annualized rate (NSAAR)
  • Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual
• Start dates:
  • 1980Q1 for total GDP(E)
  • 1993Q1 for GDP(E) detail
  • 1993Q1 for GDP(O) detail
  • 2008Q1 for sector accounts

Predecessor(s):

• At 2013 prices - 1980Q1 to 2023Q1 ("_13")
• At 2008 prices - (1980, 1993) to 2017Q2 ("_08")
• At 2003 prices - (1980, 1993, 2003) to 2013Q1 ("_03")
• At 1993 prices - 1993 to 2006 ("93")

Global concept aliases:

State accounts

Active:

• Framework: UN SNA 2008
• Classification: NAICS Mexico 2007
• Measurements:
  • Millions of Mexican pesos at constant year-2018 prices (Mil. 2018 MXN)
  • At current prices (Mil. MXN)
• Adjustment: Not applicable
• Native frequency: Annual
• Start date: Uniformly 2003
• Geo coverage:
  • Country
  • Federal entity (32x IMEX_aa)
• All concept-geo pairs exist: Yes

Predecessor(s):

• At 2013 prices - 1980 to 2021 ("_13")
• At 2008 prices - 2003 to 2015 ("_08")

The source writes:

For the calculation of the Quarterly GDP at constant prices using the same conceptual framework and methodology that is used in the calculation of the Accounts of Goods and Services System of National Accounts, Mexico (SCNM). It is derived from an index of monthly and quarterly-physical volume of production-design Laspeyres, which are based fixed in the year 2003.

The criteria for the classification of economic activities of the Industrial Classification System of North America (NAICS) 2002, which also serve to order the basic statistical information that has opportunity monthly. For the process of adding classes to the sub-sectors of economic activity is to obtain subtotals by subsector with 668 kinds of measures, a total of 737, with the values they are representative of those sectors of activity that are aligned with the values Annual technique Denton, infiriéndose in this way the evolution of the classes, not to count on information from quarterly and its minimal relative importance, are not direct measures. Thus, the coverage achieved for quarterly GDP is 93.7 percent.

Data are for the total economy, as well as for each of the 20 industries that comprise: Agriculture, livestock, logging, fishing and hunting, mining, electricity, water and gas supply pipeline to the final consumer; Construction; Manufacturing; Trade, Transportation and warehousing; Information in mass media, financial services and insurance, real estate services and rental of movable and intangible; Professional, scientific and technical direction of corporate and business; support services business and waste management and remediation services, educational services, health services and social assistance; Recreational cultural and sporting and other recreational facilities, temporary accommodation services and preparation of foods and beverages; Other services except activities Government; activities of the Government, and Financial intermediation services indirectly measured. Additionally, it includes the information on the three main groups of activities: primary, secondary and tertiary, which in conjunction with those sectors.

It should be noted that the Agriculture levels differ from those obtained by calculating annual System of National Accounts, Mexico, because in the latter quantifies the production of "agricultural year", while the quarterly value added is measured in each of the quarters within a calendar year.

The data for each quarter are presented in millions of pesos in annualized terms, that is multiplied by four, in order to express the level they would reach the country's economy or any economic sector, whether in the rest of the year were maintained in the conditions observed the quarter under review.

To calculate the nominal Gross Domestic Product Quarterly selected monthly price indices for 668 class actions in the calculation at constant prices, a total of 737, the Industry Classification System of North America (NAICS) 2002, such as: national rates of producer and consumer prices, the price index for the construction industry, the general minimum wage rate and area index of export prices of oil and metals, complemented by themselves when working data Basic surveys and administrative records allow.

The price indices used are based Laspeyres type fixed in the year 2003, representing goods and services included in each class, which used to inflactar real GDP in each class and the method of aggregation is similar to that used in the calculations at constant prices.
Unbundling published Quarterly GDP in nominal terms for the total economy and for each of the 20 sectors that comprise it.

It should be noted that the Agricultural Sector levels differ from those obtained by calculating annual System of Goods and Services, because the latter is quantified in the production of the agricultural year, while the value is measured quarterly added in each of the quarters within a calendar year.

The main sources of information are the Monthly Industrial Survey, the Monthly Survey of Services, the Bank of Mexico, Petroleos Mexicanos, the Federal Electricity Commission, Energy Regulatory Commission (ERC), Ministry of Labor and Social Welfare, among others.

Data for each quarter are presented in millions of dollars in annualized terms, that is multiplied by four, to the level that would express the country's economy or any industry, if the rest of the year in maintaining the conditions observed in the quarter under review.

Sector accounts

The Quarterly Institutional Sectors record transactions that are related to the production, generation and distribution of national income, through taxes, wages, contributions and social benefits. The transactions occur between residential institutional sectors and the res of the world. Transactions also include transactions concerning accumulation and sectoral balances for non-financial assets, financial assets and liabilities.

The sectorization defined for Mexico corresponds to that recommended in the SCN2008. The data is based on the methodological criteria of the base year 2013 of the System of National Accounts of Mexico (SCNM).

Regional accounts

The source writes:

The National Institute of Statistics and Geography (INEGI) provides publicly available estimates of domestic product GDP by State (kid), series 2003 to 2008, values current and constant, disaggregated to 19 sectors Economic Classification System North American Industry (NAICS), which show the new base year 2003 System National Accounts of Mexico.

The calculations presented here were prepared in accordance with methodology established at the international level by the System National Accounts 1993 (SNA 93), joint publication Organization of the United Nations (UN), International Monetary Fund (IMF), World Bank, the Organization for Cooperation and Development (OECD) and the Office of Statistics of the European Economic Community (EUROSTAT), the system European National and Regional Accounts 1995 (ESA95) and particularly the Regional Accounting Manual: value added GDP and gross capital formation by branch of economic activity the latter two works developed by EUROSTAT.

The organization of economic activities was performed according to NAICS 2002, which was adopted by the partners of the Treaty American Free Trade Agreement (NAFTA): Canada, United States Mexico, in order to assist in the harmonization and comparability of economic indicators in the region. In addition, it developed a table of convergence with the Classification International Standard Industrial Classification of All Economic Activities (ISIC), Series M, Number 4, revision 3, of the UN, with the aim of facilitating international comparisons.

Is a need for technical precision fundamental in Gross Domestic Product at market prices (GDPmp) are incorporated taxes on products net of subsidies, while the number presented here refers to Gross Value Added value basic (VABpb) and not the GDPmp. In order to avoid confusion, unnecessary synonyms are considered as Gross Value Added and GDP in basic values, such as in other countries.

The adoption of internationally accepted methodological framework includes ensuring that the regional GDP is prepared on the basis of harmonized principles, consistent and rigorous, and therefore their data are comparable. The necessary comparability state, national and internationally, due to the increasing importance that it has acquired knowledge of the performance of regional economic activity for making planning decisions, in all its various areas: academic, public, private and social. It can be stated without fear of error, that this statistic of Mexico competes with other countries of the world in terms of methodological developments and estimation procedures and schedule information provided publication, be proportionate to the development reached statistical base for countries like Canada, USA and some of the European Union. The sources of information to measurements supported by state are: Censuses Economic, 1989, 1994, 1999 and 2004, X, XI, XII Population Census and Housing; I and II Counting of Population and Housing; Survey National Occupation and Employment (ENOE); VII Census of Agriculture, Livestock and Ejido 1991, the Monthly Industrial Survey and Annual enlarged to 231 kind of economic activity from 2003 National Survey

Formal Sector of the Construction Industry, Survey Monthly commercial establishments, and Statistics Mining and Metallurgy Industry, among others. It also had various administrative records of firms public and private own statistics and public sector Public Accounts and Estimates of Expenditure of the states; Statistics sectoral ministries, such as: Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA), Environment and Natural Resources (SEMARNAT), Energy (SENER), Economy (SE) and Communications and Transport (SCT), also records were available of Petroleos Mexicanos (PEMEX), Commission Federal de Electricidad (CFE), Luz y Fuerza Centro (LFC), Commission Regulatory Energy (CRE), National Water Commission (CNA) Mexican Geological Service (EMS), National Banking and Securities Commission Securities (NBSC) and National Commission of Insurance and Surety (CNSF), among others.

Moody's Analytics supplements

In GDP(E): For trade balance, all four variants, we construct supplements as additive identities.

In GDP(I): For compensation of employees, we compute an SA counterpart.

In GDP(O): For GVA detail, we compute SAAR counterparts, directly and as additive aggregates.

For the sector accounts, we construct SA employee compensation and household disposable income.

Yes. The most recent quarter is generally marked preliminary and the source tends to revise within the last two quarters.

The currency reference year is advanced every fifth year.

Terminology

The country of Mexico is divided into 32 "federal entities" which comprise 31 states and the federal district.

Further reading

At the source:

• Producto Interno Bruto (PIB) - Trimestral. Base 2003
• Producto Interno Bruto (PIB) - Trimestral. Base 2008
• Producto Interno Bruto (PIB) - Trimestral. Base 2013
• Producto Interno Bruto Trimestral (PIBT). Año base 2018

At IMF (SDDS):

• Real Sector: National accounts (Jan 2024)

• Sep 2005 - Initial version.
• Aug 2008 - Currency reference year advanced from 1993 to 2003.
• May 2013 - Addendum: GVA in SA terms (verbatim).
• Aug 2013 - Advanced from 2003 to 2008.
• Aug 2013 - Addendum: GVA in SA terms (supplements).
• Nov 2017 - Advanced from 2008 to 2013.
• 30 Aug 2023, Phillip Thorne - Advanced from 2013 to 2018: Properties, Further reading.
• 12 Oct 2023, Phillip Thorne - Moody's Analytics supplements.
• 7 Jun 2024, Phillip Thorne - Addendum of SA income: Moody's Analytics supplements.
• 27 Nov 2024, Phillip Thorne - State GVA advanced from 2013 to 2018: Properties, Methodology.