The Mexican economy grew 3.5 percent in the fourth quarter of 2022, compared to the same quarter of 2021. It is the seventh consecutive increase, and in all of 2022 it increased 3.0 percent, according to the first estimate of the national statistics agency Inegi, released today.
Despite the increase, the size of Mexico’s economy still lags behind; prior to the SARS-CoV-2 pandemic, the Mexican economy accumulated four quarters of decline. In 2022, GDP grew 3.0 percent, an increase that is added to the 4.7 percent increase in 2021. However, the 0.2 percent drop and the 8.0 percent drop in 2019 and 2020, respectively, is higher than the recovery.
In 2022, the Mexican economy is 0.9 percent below 2018, the last year of the previous presidential term.