Report by the WTO Secretariat

The Mexican economy experienced a severe downturn starting in mid-2018, followed by a slight contraction in real GDP in 2019 due in particular to a fall in gross capital formation, a reduction in public spending and a slowdown in private consumption. In 2020, the economy was badly affected by the COVID-19 pandemic, which caused GDP to shrink by 8.2% during the year. In 2021, the Mexican economy rebounded, with GDP growth of around 4.8%, thanks in large part to the measures adopted to deal with the pandemic, which were aimed primarily at assisting the hardest-hit families and businesses, particularly small and medium-sized enterprises. These measures include the opening of facilities to provide an adequate level of liquidity, incentives for the restructuring of bank loans and the implementation of social programmes and business support programmes, such as the Financial Support Programme for Family-Run Microenterprises.