One million small and medium-sized companies closed due to the pandemic in Mexico during 2020, INEGI reports

COVID-19 changed the world in 2020 and led governments to impose closures and restrictions, partial and total, in various sectors of the economy. Of the 4.9 million micro, small and medium-sized companies reported in Mexico during 2019, 3.9 million survived the impact of the pandemic and 1,010,857 establishments closed their doors permanently.

The Study on Business Demography (EDN) 2020, prepared by the National Institute of Statistics and Geography (Inegi), estimated that until September of last year there was a reduction of 8.1 percent in the total number of companies reported in the Censuses Economic for May 2019.

The 79.2 percent of economic units that exist in the country managed to survive the impacts of the new coronavirus that also left the country with a historical drop in GDP of 8.5 percent per year and more than two million 549 thousand unemployed people, 607 thousand more than in 2019, according to the National Occupation and Employment Survey (ENOE).

Meanwhile, the employed population that needs to offer more time increased by 3.8 million, from 4.3 to 8.1 million in the referred period.

The Yucatan Times
Newsroom



Comments

comments

more recommended stories