Publications

Mexico's economy slowed by mid-2025. Growth in Q2 2025 was concentrated in primary activities (+4.5%) and services (+1.1%), while industry contracted (−1.3%). Services, particularly tourism and trade, drove stronger performances in CDMX and Baja California. The automotive sector saw declining exports due to new tariffs.

Construction GDP contracted by 1.1% in the first half of 2025, driven by a 24.6% decline in Civil Works. The mortgage market shrank by 9.2% , affected by a weak labor market and rising housing prices.

In June 2025, Mexico faced an effective average tariff of 8.28% on $44.9 billion in exports to the US—among the lowest globally. This reflects shifting trade flows and sector-specific tariff variations, positioning Mexico to benefit from renewed nearshoring momentum.

Reliable statistics are essential to guide economic and social development. Their value rests on principles such as impartiality and transparency, which sustain public trust. Institutional changes and recent cases highlight the need to protect technical independence and methodological accuracy for useful, credible data.

The BBVA Research Multidimensional Manufacturing Indicator grew 2.0% YoY in May, bringing the average year-over-year growth variance for the first five months of the year to 5.0% (vs. 1.0% in the same period last year).

At the end of 2024, the Mexican economy's GDP grew by 1.5%, primarily driven by the Services sector, which experienced a 2.3% increase. Notably, Professional Services, Transportation, and Retail emerged as the key sectors contributing significantly to this economic growth.

Formal employment in Mexico shows clear signs of deceleration, reflecting an adverse economic environment marked by domestic and global uncertainties. Although real wages have remained somewhat resilient, job creation faces significant pressures that negatively impact the total wage bill.