Of the 45 largest economies, Mexico is one of the furthest behind after the pandemic

a heavy slope

Mexico fell 8.2% in 2020, rebounded relatively in 2021 with a growth of 4.9% and grew only 3.1% in 2022.

For 2023, the International Monetary Fund forecasts a growth of 1.8% in its GDP.

GDP per capita is also on the mend. Well, according to Inegi data, in 2019 Mexico’s economic production was equivalent to 146,109 pesos per inhabitant. And, at the end of 2022, GDP per capita reached 142,030 pesos.

However, other economies with similar declines had a more robust recovery. Colombia, for example, fell 7.3% in 2020 and in 2022 it has not only recovered, but its economy is 10.7% larger than in 2019.

Hong Kong’s GDP, on the other hand, is 4% below levels prior to the appearance of the health emergency. But it should be remembered that both in Hong Kong and in mainland China, the restrictions against covid-19 were maintained for longer than in the rest of the economies.

Ireland, Türkiye and China advance more than all

Despite zero covid policies that restricted multiple economic activities, China ranks third among the world’s 45 largest economies with the fastest recovery. In 2022, its GDP was 14.2% larger than in 2019.

In addition, in the first quarter of 2023, China grew 4.5% annually, a higher than expected rate of 4%.

Turkey, in second place, is now 19.9% ​​bigger than it was in 2019, economically speaking. And, first of all, Ireland grew 34.4% in the same period. Although it should be noted that these three countries did not suffer a contraction as such in 2020, but rather a slowdown.