Mexico - Real Gross Domestic Product





Mexico: Real Gross Domestic Product

Mnemonic GDP$.IMEX
Unit Mil. 2013 MXN, SAAR
Adjustments Seasonally Adjusted at Annual Rate
Quarterly 0.76 %
Data 2021 Q1 17,635,562
2020 Q4 17,502,140

Series Information

Source Instituto Nacional de Estadística Geografia e Informática (INEGI)
Release GDP - Demand and Supply
Frequency Quarterly
Start Date 3/31/1980
End Date 3/31/2021

Mexico: GDP

Reference Last Previous Units Frequency
Government Consumption 2021 Q1 3,035,008 2,992,849 Mil. MXN, SAAR Quarterly
Investment 2021 Q1 4,789,735 4,534,770 Mil. MXN, SAAR Quarterly
Nominal Fixed Investment (gross fixed capital formation) 2021 Q1 4,837,464 4,596,439 Mil. MXN, NSAAR Quarterly
Nominal Gross Domestic Product 2021 Q1 25,066,034 24,329,325 Mil. MXN, SAAR Quarterly
Private Consumption 2021 Q1 16,102,986 15,337,497 Mil. MXN, SAAR Quarterly
Real Fixed Investment (gross fixed capital formation) 2021 Q1 3,178,419 3,087,704 Mil. 2013 MXN, NSAAR Quarterly
Real Government Consumption 2021 Q1 2,229,953 2,219,526 Mil. 2013 MXN, SAAR Quarterly
Real Gross Domestic Product 2021 Q1 17,635,562 17,502,140 Mil. 2013 MXN, SAAR Quarterly
Real Investment 2021 Q1 3,187,147 3,027,971 Mil. 2013 MXN, SAAR Quarterly
Real Private Consumption 2021 Q1 11,862,929 11,528,915 Mil. 2013 MXN, SAAR Quarterly

Release Information

For Mexico, the quarterly national accounts, including the detailed expenditure, income, and production approaches, and a selected excerpt of institutional sector data.

Active:

  • Framework: UN SNA 2008
  • Classification: NAICS Mexico 2007
  • Measurement:
    • Millions of Mexican pesos at constant year-2013 prices (Mil. 2013 MXN)
    • At current prices (Mil. MXN)
    • Deflator relative to 2013 (Index 2013=100)
  • Adjustments:
    • Seasonally adjusted, annualized rate (SAAR)
    • Not seasonally adjusted, annualized rate (NSAAR)
    • Not seasonally adjusted (NSA)
  • Native frequencies:
    • Quarterly
    • Annual
  • Start date:

Predecessors:

  • At 2008 prices
  • At 2003 prices
  • At 1993 prices

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.

Moody's Analytics supplements

For compensation of employees, reported in GDP(I), we compute an SA counterpart.

Yes. Most recent quarter of data is generally marked preliminary and the source tends to revise data within the last two quarters. 

Further reading

At IMF (SDDS):