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While Mexico’s economy suffers, Yucatan is one of its fastest growing states

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The Harbor, one of Merida’s new malls, is one of Yucatan’s most outward signs of growth. Photo: Instagram

Yucatan is far from Mexico’s largest economy, but it’s one of the country’s fastest-growing states.

From January to March 2019, Yucatan was fifth in economic growth, the National Institute of Statistics, Geography and Informatics (Inegi) reported.

According to the results of the Quarterly Indicator of State Economic Activity (ITAEE), during the first quarter of the year the states that reported the most significant growth were Sinaloa with 6.4 percent, Chihuahua with 4.2 percent, Nuevo León with 4.0 percent, Puebla with 3.8 percent and Yucatan with 3.4 percent.

This growth occurred while the country overall registered an economic decline. Mexico narrowly avoided a recession during the first half of 2019 as gross domestic product grew by only a fraction in the second quarter, data showed on Wednesday.

The ITAEE report also noted that the states with the largest drop in the first three months of 2019 were Aguascalientes, with 3.9 percent, Baja California Sur with 2.5 percent, Mexico City and the State of Mexico with 1.4 percent each, Oaxaca with 1.2 percent and Guanajuato 0.8 percent.

The total economy in the south-southeast region of the country decreased 1.4 percent, compared to the same period of the previous year.

Source: Punto Medio

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