Industrial activity in Mexico grows 3.3% in 2022

Industrial activity in Mexico grew 3.3 percent in 2022 compared to the previous year, the National Institute of Statistics and Geography (Inegi) reported this Friday.

According to the Monthly Industrial Activity Indicator (IMAI), this pillar of the economy was driven mainly by manufacturing, which grew 5.2 percent in the year.

The generation, transmission, and distribution of electrical energy, water, and gas supply through pipelines to the final consumer was the second sector with the highest growth in the year, with 3.6 percent.

The other two components of the indicator, construction, and mining, had more modest results, with increases of 0.4 and 0.2 percent in the year, respectively.

The figures reflect the Mexican economy’s behavior, which grew 3% annually in 2022, according to the timely estimate released by Inegi last week.

Inegi data indicate that during the 12 months of the year, industrial activity had positive results in its annual comparison. However, it closed slowly, growing 3.1 percent in December, 0.2 percentage points less than in the previous month.

Despite the positive results, the level of industrial activity in the country is 1.4 percent below that recorded in 2019, before the impact of the pandemic, according to an analysis by Banco Base.