According to the Quarterly Indicator of the State Economic Activity of the National Institute of Statistics and Geography (Instituto Nacional de Estadística y Geografía: Inegi), during the first quarter of the year, the state economy in Yucatán grew by 3.1% compared to the first quarter of 2017, maintaining a positive trend.
During this same period, the average economic growth in other states was 1.4%; which means the economy of Yucatan has advanced more than double the average growth in the rest of the country.
According to figures published by Inegi, this growth of 3.1% means that Yucatan continues with a growth rate of over 3% during eight of the last nine quarters.
Now, this first quarter of 2018 shows that Yucatán manages to keep a good pace despite the fact that other states have less consistent results.
In total, between 2014 and 2017, the state’s economy has grown at an average rate above 3.5% quarterly, while the national quarterly average is 2.2%.
On the other hand, industrial growth continues to be the main driver of economic activity in Yucatán.
The secondary sector, which includes industrial activities, construction, energy and mining, advanced 6.4% in the state, while the national growth was negative, with -0.8%.
This positions Yucatán as one of the six Mexican states with the greatest industrial advance during the first quarter this year.
In particular, Yucatan was one of the five most dynamic states in the construction sector, with a growth of 20% during the first three months of the year.
The tertiary sector, which represents more than 60% of the total economic activity in the state, also showed good results during the beginning of 2018.
This sector, which includes services, trade and professional and technical activities, advanced at a rate of 2%, at the same level as national growth.
In addition to this important economic development, the labor, business and constructive prospects are positive; it is estimated that this advance will continue for the rest of the year and for the next few years.
Between 2014 and 2017, the economy of Yucatán grew at a rate higher than 3.5% quarterly.
In recent days, the state governor recalled that for almost six years his administration has promoted a new industrial generation, which has allowed to maintain a national leadership in the manufacturing sector, and also created favorable conditions for the arrival of more companies.
One example is the Uchiyama Group, a Japanese Corporation that manufactures a wide variety of polystyrene products, such as “PLASFOAM”, for the automotive sector. This company recently announced an investment of 50 million USD in the state of Yucatán.
more recommended stories
Man who jumped from Periférico bridge is caught by heroic police officer (VIDEO)
MÉRIDA, YUCATAN (September 27, 2020).- An.
Merida man prosecuted for family violence against his own sister
MÉRIDA, YUCATAN.- A man was arrested.
Tesla, Ford Motor and Home Depot among others sue Trump’s administration
About 3,500 US companies are litigating.
On Sep. 28 World Tourism Day, take a virtual vacation!
Today is World Tourism Day, and while.
Mexico wants to pay US water debt and stay out of US 2020 presidential election
Mexico’s president is calling on angry.
Six Mayan pyramids discovered in Yucatan
INAH reports that one of the.
López Obrador fears the intellectuals of his country, assures ‘The Economist’
The Economist pointed out in an.
On Sixth Anniversary of 43 students disappearance, Mexico issues arrest warrants
Mexican authorities have issued dozens of.
Mexico will be the economy hardest hit by the pandemic: UNCTAD.
In 2020, Mexico will fall 10%,.
August 2020 is the most violent month on record in Mexico
August 2020 was the most violent.