Mexico City, March 6. Mexican gross fixed investment grew by 6% per year in 2022, driven in particular by the machinery sector, the National Institute of Statistics and Geography (Inegi) reported on Monday.
Based on original figures, Inegi indicated that this result had been obtained last year thanks to annual advances of 1.1% in construction and 12.4% in machinery and equipment.
Meanwhile, in December alone, gross fixed investment rose 9.4% year-on-year due to increases in machinery and equipment (13.5%) and construction (5.8%).
On the other hand, according to seasonally adjusted data, gross fixed investment increased by 2.7% per month in December compared to the previous month.
This is a combination of monthly increases of 2% in construction and 3.1% in machinery and equipment.
The figures reflect the behavior of the Mexican economy, which grew by 3.1% in 2022, driven by all sectors, as revealed by Inegi last month.
Mexico’s gross fixed investment grew 10% year-on-year in 2021, driven by the economic recovery after hitting the worst stage of the coronavirus pandemic.
While it has fallen by 18.2% per year in 2020, driven by the covid-19 crisis, which totals more than 330,000 deaths in Mexico, the fifth highest figure in the world.
In 2019, this investment contracted by 4.9%, while it increased by 0.6% in 2018.
Gross fixed investment allows us to know the behavior of short-term investment, according to Inegi.
It consists of goods which have been used in the production process for more than one year and which are the subject of property rights.
Mexico’s economy has recovered to its pre-pandemic level after growing in 2022 and 4.8% in 2021 after contracting 8.2% in 2020, its worst slump since the Great Depression of 1932. EFE
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