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Yesterday the INEGI released the GDP figures for 2009, and since it was an annus horribilis for Mexico, I thought I’d put up a couple of charts. Looking through the Banco de Información Económica I found two series of historical seasonally adjusted GDP data available:
- GDP in 1993 pesos going from 1980 to 2007
- GDP in 2003 pesos going from 1993 to 2009
I used a linear regression to combine both series, which I’m sure is wrong for some obscure technical reason only known to economists, but for a blog post I’m sure it is more than enough.
The GDP is in millions of pesos. You can clearly see why the 80s were a lost decade, and that’s not even taking into account that the population of Mexico increased by more than 10 million.
To calculate the GDP per capita I had to find the data for the 1980 census and extrapolate up to 1990, the first year for which I could find population estimates from the Conapo
The 80s sure sucked. The dot.com boom combined with the recovery from the “december mistake
” probably helped Zedillo achieve the highest growth rates. And, obviously, the current president is in negative territory.
Here’s what happened this decade:
That was a fall of 7.3% in GDP per capita! Sigh… another lost decade
P.S. Here’s the code