Mexico's economy grew 4.8% in 2021

Mexico City, Feb 1 Mexico's economy grew 4.8 per cent in 2021, following the 8.2 per cent retraction in the previous year due to the Covid-19 pandemic, preliminary figures from the National Institute of Statistics and Geography (INEGI) showed.

INEGI's initial numbers on Monday revealed that industrial activity rose 6.5 per cent in 2021, while the service sector increased 4 per cent, reports Xinhua news agency.

The agricultural sector expanded by 2.9 per cent last year, according to preliminary estimates, with final numbers to be published on February 25.

Meanwhile, Mexico's gross domestic product (GDP) increased by 1 per cent year on year in the fourth quarter of 2021, INEGI said.

It also noted that between October and December of last year, agricultural activity increased by 4.8 per cent year on year, while the industrial sector grew by 1.6 per cent and the service sector, the largest GDP contributor, had no variation in the fourth quarter.

Based on seasonally adjusted figures, the Mexican GDP declined 0.1 per cent in the fourth quarter of 2021 compared with the previous period, according to INEGI's estimates.

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