Aug
20
Mexico Records Second Consecutive Year of Total Productivity Increase
Mexico has witnessed a notable surge in total productivity for the second consecutive year, with a growth of 1.30% in 2022, as per data from Inegi. The 1.30% increase in productivity in 2022, compared to 2021, marks the second consecutive rise after a decade of declines.
This data stems from the total value of production in Mexico, serving as the foundation for measuring the total factor productivity (TFP) for the entire economy, based on information from Inegi, Mexico's public statistics office. Over the period from 1991 to 2022, the TFP averaged an annual decline of 0.57%. Notably, the primary sector witnessed a productivity growth of 3.65%.
While 2020 saw the steepest decline in productivity at 3.94%, the primary sector (agriculture and fisheries) has experienced the most significant productivity boost, with a 3.65% advance in 2022 compared to 2021. In contrast, the secondary sector (industry and manufacturing) and tertiary sector (commerce and services) reported declines of 2.5% and 0.96%, respectively.
Retrieved from:
El Economista. (27 de diciembre de 2023). La productividad en México aumentó por segunda ocasión en 10 años. Recuperado el 1 de enero de 2024, de https://www.eleconomista.com.mx/empresas/La-productividad-en-Mexico-aumento-por-segunda-ocasion-en-10-anos-20231227-0040.html.
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