Querétaro’s economy grew by 9.3% from January to September 2021: ITAEE

Queretaro, Qro. The state economy grew 9.3% of January to September 2021, compared to the same period of the previous year, an achievement mainly by the manufacturing industry, reveals the Quarterly indicator of state’s economic activity (ITAEE), of the National Institute of Statistics and Geography (inegi).

The growth that the state economy in the first three quarters of the year was the product of the 0.7% decline that occurred in the first quarter, as well as the 24.5% progress in the second period and the 7% growth in the third term.

During the first nine months of the year, secondary activities –With sectors dedicated to mining industry, manufacture, construction Y electricity– had the highest annual growth, 15% compared to the same period in 2020.

Next, the tertiary activities -which includes the Trade, services, among others branches – also grew, but showed a more moderate variation of 6.3% in annual terms.

The primary activities – which includes the farmer, animal husbandry and exploitation, forest extraction, fishing and I– decreased by 4,7% compared to the same period last year, which is the only productive branch that did not grow in that period.

However, secondary activities made the largest contribution to the evolution of the local economy: in the period January-September, it contributed 5.7 percentage points to government growth (which was 9.3%); This was followed by tertiary activities that contributed 3.7 percentage points and primary activities did not contribute (-0.1 percentage points).

The annual growth accumulated by secondary activities in the first nine months of the year was derived from the annual advance of 2.9% in the first quarter, 41.8% in the second and 7.9% in the third.

In terms of tertiary activities, the growth from January to September was due to the 7.3% decrease in the first quarter, as well as the 16.4% growth in the second period and 7.1% in the third.

However, the annual decline in primary activity, in the first nine months, was due to three consecutive quarters in which it decreased: -4.7% in the first quarter, -3.5% in the second and -6% in the third.

Third term

Especially in the third quarter of 2021, the state economy grew by 7% compared to the same period of the previous year. In the Tthird quarter of the year, primary activities fell by 6% annually, a variation that placed the state in 28th place among the 32 entities.

Secondary activities progressed by 7.9% annually, placing them in the eleventh national position. While tertiary operations grew by 7.1% compared to the same quarter of the previous year, the ninth place at national level.

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Reference-www.eleconomista.com.mx

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