Mexico GDP 4Q2013

by Eduardo Petazze
The INEGI of Mexico has released the Gross Domestic Product at Market (2008) Prices (pdf, 13 pages) data for the 4th. quarter of 2013
Also see: GDP at current prices pdf, 3 pages Monthly Gross Fixed Investment pdf, 9 pages
In 4Q2013 GDP rose by 0.67% Y/Y (+0.18% Q /Q)
In 2013 the Mexican GDP grew by 1.06%, from 3.91% in 2012
The following is a summary
2012
2013
2012 Y/Y 2013 Y/Y
Millions (2008) pesos, NSA
2013Q1
2013Q2
2013Q3
2013Q4
Y/Y Q1 Y/Y Q2 Y/Y Q3 Y/Y Q4
1,617,780
1,622,004
7.25%
0.26% Primary Activities
357,128
441,830
336,659
486,388 -2.21% 2.55% 0.79% -0.27%
4,102,142
4,033,312
0.83%
-1.68% Mining
994,081
1,001,894
1,011,936
1,025,401 -1.83% -2.10% -1.86% -0.93%
1,168,009
1,170,610
2.30%
0.22% Electricity, water and gas
282,063
274,638
311,636
302,273 -1.05% 0.20% 0.87%
0.78%
4,139,003
3,952,772
2.01%
-4.50% Construction
942,677
980,351
982,804
1,046,941 -2.98% -3.58% -6.65% -4.63%
8,755,489
8,877,756
3.75%
1.40% Manufacturing
2,145,986
2,252,602
2,256,051
2,223,116 -1.17% 1.95% 2.89%
1.89%
7,992,477
8,214,390
4.41%
2.78% Trade
1,954,703
2,073,137
2,056,301
2,130,248 0.46% 3.73% 4.45%
2.44%
3,039,527
3,083,940
4.37%
1.46% Transportation and Warehousing
751,672
773,072
774,198
784,999 0.56% 1.84% 2.24%
1.20%
1,723,562
1,817,784
16.36%
5.47% Information
448,115
443,138
459,447
467,084 11.06% 6.49% 5.07%
0.09%
2,271,700
2,358,257
8.51%
3.81% Financial services and insurance
575,082
585,127
590,034
608,015 3.81% 7.18% 3.08%
1.44%
6,344,333
6,438,803
2.53%
1.49% Real estate
1,624,833
1,574,142
1,606,925
1,632,903 1.82% 1.63% 1.46%
1.05%
1,164,707
1,152,762
1.10%
-1.03% Professional,
283,345
280,377
278,838
310,202 0.99% -0.65% -3.05% -1.31%
317,210
299,276
6.72%
-5.65% Management of companies
70,678
75,246
79,732
73,619 -1.12% -2.85% -1.92% -15.37%
1,650,671
1,714,472
4.37%
3.87% Services business
421,601
419,394
421,382
452,095 6.27% 3.78% 2.79%
2.78%
1,967,696
1,989,061
2.22%
1.09% Education
499,885
475,761
495,242
518,172 -0.24% 1.77% 1.32%
1.54%
1,063,427
1,084,728
2.14%
2.00% Health care
276,474
260,975
275,351
271,927 3.50% 2.59% 0.93%
1.05%
234,044
234,210
2.90%
0.07% Recreational, cultural and
55,986
54,870
58,795
64,559 2.82% -1.75% -0.63% -0.03%
1,095,118
1,118,216
5.44%
2.11% Accommodation and .
276,934
270,882
283,749
286,651 3.91% 1.10% 1.69%
1.78%
1,074,403
1,092,814
2.78%
1.71% Other Services government
270,363
268,477
276,639
277,335 2.62% 2.02% 1.69%
0.58%
1,959,938
1,975,639
3.79%
0.80% Government
475,311
502,748
484,142
513,438 -0.07% -1.36% 2.78%
1.96%
51,681,234 52,230,806
3.90%
1.06%
Gross Value Added
12,706,915 13,008,662 13,039,863 13,475,365 0.61% 1.59% 1.39%
0.67%
1,373,168
1,387,770
4.30%
1.06% Taxes
337,622
345,640
346,469
358,040 0.61% 1.59% 1.39%
0.67%
53,054,402 53,618,576
3.91%
1.06%
GDP
13,044,537 13,354,302 13,386,332 13,833,405 0.61% 1.59% 1.39%
0.67%
3.91%
1.06%
Y/Y
0.61%
1.59%
1.39%
0.67%
52,947,469 53,646,562
3.67%
1.32% Memo GDP, SA
13,412,241 13,319,121 13,445,587 13,469,613
3.67%
1.32%
Q/Q
0.21%
-0.69%
0.95%
0.18%
2012
2013
2012 Y/Y 2013 Y/Y
Millions (2008) pesos, NSA
2013Q1
2013Q2
2013Q3
2013Q4
Y/Y Q1 Y/Y Q2 Y/Y Q3 Y/Y Q4
53,054,402 53,618,576
3.91%
1.06% GDP - Expenditure Approach
13,044,537 13,354,302 13,386,332 13,833,405 0.61% 1.59% 1.39%
0.67%
35,464,221 36,194,188
4.68%
2.06% Private consumption
8,815,216
8,938,931
9,079,657
9,360,384 1.91% 3.81% 2.28%
0.37%
5,874,531
5,911,488
3.28%
0.63% Public Consumption
1,462,728
1,464,928
1,464,669
1,519,163 0.20% 0.05% 1.75%
0.53%
11,738,297 11,524,343
4.56%
-1.82% Gross fixed capital formation
2,720,902
2,878,607
2,865,972
3,058,862 -0.97% 0.77% -3.87% -2.99%
354,558
103,944
Inventories change
-55,083
169,173
-10,147
0
16,671,665 16,858,674
5.92%
1.12% Exports
3,895,509
4,404,399
4,327,446
4,231,320 -4.50% -1.84% 5.63%
5.55%
16,714,620 16,830,621
5.37%
0.69% Imports
3,856,373
4,356,191
4,318,945
4,299,113 -1.31% 4.07% 2.27% -2.25%
-334,251
-143,440
Residual
61,638
-145,546
-22,320
-37,212
Memo (million current dollars):
387,523
402,943
6.02%
3.98% Exports Goods and Services
93,206
103,282
100,496
105,958 -1.22% 4.88% 5.78%
6.30%
401,587
415,022
5.37%
3.35% Imports Goods and Services
96,669
105,977
105,463
106,913 1.81% 5.36% 5.07%
1.17%
Last data
Note: GDP data under the expenditure approach (nclud reviewing the first three quarters of 2013) will be released on March 20, 2014.

Global Indicator of Economic Activity (IGAE) of Mexico, is a monthly proxy of GDP.

2008=100
2009
2010
2011
2012
2013
2014
2011Q1
2011Q2
2011Q3
2011Q4
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
2014Q1
2014Q2
2014Q3
2014Q4
Own estimate
IGAE
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12
Last data

In December 2013, the economy grew 1.11% Y/Y (-0.27% M/M)

IGAE as published
GDP (million 2008 pesos)
NSA
Y/Y
SA
Q/Q
Quarter avg
NSA
Y/Y
SA
95.31 -4.69%
95.28 -4.58%
2009
11,680,749
-4.70% 11,682,130
100.20 5.14%
100.17
5.13%
2010
12,277,659
5.11% 12,280,882
104.22 4.01%
104.23
4.06%
2011
12,764,449
3.96% 12,768,541
108.29 3.91%
108.24
3.84%
2012
13,263,600
3.91% 13,236,867
109.50 1.11%
109.49
1.15%
2013
13,404,644
1.06% 13,411,641
110.54 0.95%
110.54
0.96%
2014
13,528,900
0.93% 13,528,900
101.02 4.48%
102.72
1.27% 2011Q1
12,369,055
4.38% 12,570,176
102.78 3.21%
103.50
0.76% 2011Q2
12,588,488
3.16% 12,683,788
104.53 4.10%
104.86
1.31% 2011Q3
12,803,780
4.09% 12,858,725
108.56 4.24%
105.86
0.96% 2011Q4
13,296,475
4.23% 12,961,474
105.90 4.83%
107.19
1.25% 2012Q1
12,964,922
4.82% 13,044,938
107.33 4.43%
108.17
0.92% 2012Q2
13,145,892
4.43% 13,255,689
107.75 3.09%
108.41
0.22% 2012Q3
13,202,367
3.11% 13,262,144
112.19 3.35%
109.19
0.72% 2012Q4
13,741,221
3.34% 13,384,697
106.54 0.60%
109.24
0.05% 2013Q1
13,044,537
0.61% 13,412,241
109.06 1.61%
109.02 -0.21% 2013Q2
13,354,302
1.59% 13,319,121
109.30 1.44%
109.76
0.68% 2013Q3
13,386,332
1.39% 13,445,587
113.11 0.82%
109.92
0.15% 2013Q4
13,833,405
0.67% 13,469,613
107.92 1.30%
109.91 -0.01% 2014Q1
13,217,785
1.33% 13,454,432
109.92 0.79%
110.41
0.45% 2014Q2
13,456,043
0.76% 13,502,469
110.25 0.86%
110.76
0.31% 2014Q3
13,489,741
0.77% 13,553,708
114.07 0.85%
111.08
0.29% 2014Q4
13,952,032
0.86% 13,604,993

Q/Q
-4.47%
5.13%
3.97%
3.67%
1.32%
0.87%
0.97%
0.90%
1.38%
0.80%
0.64%
1.62%
0.05%
0.92%
0.21%
-0.69%
0.95%
0.18%
-0.11%
0.36%
0.38%
0.38%

NSA
99.85
98.03
105.17
99.82
104.26
104.25
104.08
105.41
104.09
107.35
109.64
108.67
104.48
104.31
108.91
103.88
109.19
108.93
108.42
108.86
105.99
111.35
114.30
110.92

M/M
-0.21%
0.22%
0.15%
-0.82%
0.62%
0.09%
0.44%
0.10%
-0.28%
0.16%
0.36%
-0.27%
0.41%
-0.05%
-0.95%
1.22%
0.11%
-0.52%
0.67%
0.09%
-0.30%
0.37%
0.23%
-0.17%

Y/Y
4.77%
4.33%
4.35%
2.60%
3.96%
3.06%
3.43%
4.65%
4.22%
4.29%
4.59%
3.84%
4.63%
6.40%
3.56%
4.07%
4.73%
4.49%
4.17%
3.27%
1.82%
3.72%
4.25%
2.07%

SA
102.43
102.47
103.26
103.06
103.77
103.67
104.42
104.83
105.33
105.79
105.66
106.13
106.71
107.48
107.36
107.90
107.85
108.78
108.36
108.21
108.65
108.32
110.01
109.26

M/M
0.64%
0.04%
0.77%
-0.20%
0.69%
-0.10%
0.73%
0.39%
0.48%
0.44%
-0.13%
0.45%
0.55%
0.72%
-0.11%
0.50%
-0.04%
0.86%
-0.38%
-0.14%
0.40%
-0.31%
1.56%
-0.68%

IGAE
Jan-13
Feb-13
Mar-13
Apr-13
May-13
Jun-13
Jul-13
Aug-13
Sep-13
Oct-13
Nov-13
Dec-13
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14

NSA
107.52
104.74
107.35
108.20
110.48
108.49
110.74
110.03
107.14
112.88
114.29
112.15
108.25
105.95
109.56
108.07
111.49
110.20
111.13
111.04
108.57
113.58
115.15
113.47

Y/Y
2.91%
0.41%
-1.43%
4.16%
1.18%
-0.41%
2.14%
1.08%
1.08%
1.37%
-0.01%
1.11%
0.68%
1.15%
2.06%
-0.12%
0.92%
1.58%
0.35%
0.92%
1.34%
0.62%
0.75%
1.18%

SA
109.03
109.27
109.44
108.54
109.21
109.31
109.79
109.90
109.59
109.76
110.15
109.85
110.30
110.24
109.19
110.52
110.64
110.06
110.80
110.90
110.57
110.98
111.23
111.04