Mexico’s economy grew by 3% in 2022

Mexico’s economy expanded by around 3% in 2022, according to a statement by Finance Minister Rogelio Ramirez de la O.

The statement highlighted that the country’s economy saw a significant rebound last year, as tourism, automotive sector exports, and remittances from Mexican migrants living abroad all contributed to the growth.

The statement also noted that the economy is expected to continue performing better than expected due to positive indicators in the labor market and slowing inflation, which are contributing to growth prospects.

Additionally, the statement highlighted that Mexico has “financial cushions” in place to protect against potential shocks and that its external debt will remain at sustainable levels of below 50% of GDP.