The Gross Domestic Product (GDP) of the industrial sector in Mexico was the most dynamic in the economy in the second quarter (Q2), growing 4.0 percent, compared to the same quarter last year. That growth exceeded 3.6 percent of the entire Mexican economy, according to SteelOrbis analysis of data from the national statistics agency Inegi.
The industrial sector in Mexico contributes 32.1 percent of the GDP, of that percentage the manufacturing industry contributes 20.7 percent, the construction sector 6.0 percent, the mining industry 3.9 percent, and the energy sector (gas, electricity, and water) 1.4 percent.
In the second quarter, the greatest economic dynamism in the industrial sector was in construction with an increase of 14.4 percent, mining grew 2.8 percent, manufacturing 1.7 percent, and the energy sector 0.9 percent.
The 4.0 percent increase in the industrial sector also exceeded the 3.5 percent increase in the tertiary sector, the sector with the greatest contribution to the Mexican economy with 58.7 percent of total GDP. The primary sector, which contributes 3.5 percent of GDP, grew 1.9 percent.
The Mexican economy accumulates nine consecutive quarters of growth. Thus, eight quarters of economic contraction are exceeded. It is important to remember that a year before the Covid-19 pandemic, Mexico had already accumulated four consecutive quarters of contraction.