The Gross Domestic Product (GDP) of Mexico experienced a growth of 5 % in 2021 compared to the previous year, according to preliminary estimates from the National Institute of Statistics and Geography (Inegi), falling below the forecasts of various organizations such as ECLAC which expected 5.8 %, the IMF that predicted 5.3 % and the World Bank that had established it at 5.7 %.

The boost in the Aztec economy last year would have been caused by a general growth in all activities, which rebounded after a 2020 of ‘red numbers’ as a result of the pandemic. Specifically, Mexico’s GDP contracted by 8.2 % in 2020.

Regarding growth in 2021, primary activities would have grown by 2.7 %, secondary by 6.8 % and tertiary by 4.2 %.

However, the timely GDP for the fourth quarter of the year would have registered a fall of 0.1 % with respect to the previous quarter, chaining two consecutive quarters of decreases.

The decline in the fourth quarter would be explained by the fall in tertiary or service activities, which registered -0.7 %, which would have weighed down the growth of 0.3 % and 0.4 % observed in primary and secondary activities.

In year-on-year terms, GDP for the fourth quarter would grow by 1 %, after increases of 4.8 % in primary activities, 1.6 % in secondary activities and 0.1 % in tertiary activities.

The Inegi will offer the definitive GDP data of the country for 2021 on February 25.

Source: dpa

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