Mexico’s economy grows 3.1 percent in 2022

Puerto Vallarta (PVDN) – Mexico’s economy grew 3.1 percent during 2022, slightly better than the previously estimated 3.0 percent, according to revised Gross Domestic Product (GDP) data, published this Friday by the National Institute of Statistics and Geography (INEGI).

During the past year, Mexican activity faced an adverse outlook due to high inflation and the relocation of foreign companies to Mexico, which, according to analysts, could be a growth engine in the coming years.

The economy grew 0.5 percent in the fourth quarter, which, although it represented slight growth, showed signs of deceleration for the third consecutive period. Also, it was better than the 0.4 percent previously forecast.

In addition, Inegi highlights that, in the fourth quarter of last year, at an annual rate, GDP grew 3.7 percent in real terms. This growth corresponds to the comparison between the fourth quarter of 2021 and that of 2022. The data was above the timely data, which was 3.6 percent per year.

The data for economic growth in all of 2022 published this Friday, of 3.1 percent, is very similar to that released by the Inegi corresponding to the timely estimate of GDP, which was expected to be 3 percent at an annual rate.

Market expectations point to a slowdown in growth in 2023, and it would range from a contraction of 1.0 to a growth of 1.7 percent, with a point estimate of 1.1 percent, according to the most recent Citibanamex survey.

Of the institutions consulted, the most optimistic and that see a growth of 1.7 percent this year are GBM and Masari Casa de Bolsa.

While Bursametrica forecasts a contraction of 1.0 percent this year.

From the Treasury, which has the most optimistic forecast, they see a 3.0 percent increase in the economy for 2023.

Meanwhile, the Mexican Institute of Finance Executives (IMEF) estimates that the Mexican GDP will have a growth of 1.2 percent in all of 2023, a year that will be marked by economic weakness.

Subscribe here for as low as .08 cents per day to access exclusive content and join the PVDN Newsletter, and browse this site with fewer ads. (Why subscribe?)

Trending news on PVDN

  • What is considered lower, middle, and upper class in Mexico? Puerto Vallarta (PVDN) – The issue of what social class one belongs to in Mexico is often a matter of debate among those who discuss it, since there are no established parameters that define the social class in Mexico. Although the National Institute of Statistics and Geography ( INEGI) identified some socioeconomic characteristics of each…
  • Condominium development in Puerto Vallarta is destabilizing the hydrological cycle Puerto Vallarta (PVDN) – At a recent conference on “Risks in Water Management and its Influence on the Real Estate sector of the Interstate Metropolitan Area of Puerto Vallarta and Bahía de Banderas,” Dr. Bartolo Cruz Romero, a research professor at the Centro Universitario de la Costa of the University of Guadalajara, emphasized the importance…
  • Gentrification of Puerto Vallarta: Causes, Consequences, and Advantages Puerto Vallarta (PVDN) – Puerto Vallarta has been experiencing an increase in prices for rents, food, and other necessities, which could be a symptom of gentrification. For many foreigners and expats in Puerto Vallarta, these increases may seem small and still much cheaper than their home country, but it may be resulting in Mexican locals…
  • Majahuitas cove in Puerto Vallarta, one of the most peaceful places in Mexico Puerto Vallarta (PVDN) – Majahuitas is a small, secluded cove located on the southern coast of Puerto Vallarta, Mexico. It is surrounded by lush jungle and pristine beaches that make it a paradise for those seeking an escape from the hustle and bustle of everyday life. In this essay, we will explore the history, culture,…
  • Playa Careyes, a foreigner’s paradise for luxurious relaxation south of Puerto Vallarta (VIDEO) Puerto Vallarta (PVDN) – Playa Careyes is a hidden gem on the Pacific coast of Mexico, located in the heart of the Costa Alegre region and 3.5 hours south of Puerto Vallarta. This secluded beach is a favorite among travelers who are looking for a peaceful and relaxing vacation away from the crowds. With its…
Puerto Vallarta News

Compare Listings

Title Price Status Type Area Purpose Bedrooms Bathrooms