Mexico posts second-best Q2 growth among G20 nations

Mexico recorded the second highest quarter-over-quarter economic growth among G20 countries in the second quarter of 2026, an achievement highlighted by President Claudia Sheinbaum this week.

Mexico’s economy grew 1.4% on a quarter-over-quarter basis between April and June, recovering from a 0.6% sequential contraction in the first quarter of the year.

The only G20 country that recorded higher sequential growth in the second quarter was India, whose economy expanded 1.8%. Indonesia and Turkey were the only other G20 countries that recorded sequential economic growth above 1% in Q2.

Mexico’s quarter-over-quarter growth rate was double the G20 average of 0.7%. The U.S. economy grew 0.4% in the second quarter compared to the previous three months, while Canada’s economy expanded 0.8%.

At her Monday morning press conference, Sheinbaum noted that Mexico outperformed most other G20 countries in economic growth in the second quarter.

“Mexico, 1.4%, second place in economic growth in the second quarter of 2026,” she said.

“And we’re going to do better in the third quarter and the fourth quarter,” Sheinbaum said.

Mexico’s economy grew 1.9% annually in the second quarter of 2026 and 1.2% in the first six months of the year.

Annual growth in 2025 was 0.8%.

OECD lifts its Mexico growth forecast 

The Organization of Economic Co-Operation and Development (OECD) increased its 2026 economic growth forecast for Mexico to 1.5% from a prediction of 0.8% in June. The updated projection is included in the OECD Economic Outlook Interim Report, published on Wednesday.

The OECD said that growth in Mexico is “expected to recover to be 1.5% in 2026 and 1.8% in 2027, helped by the continued strength of tech-related production and the lagged impact of lower policy rates.”

Mexico has recorded strong growth in export revenue this year, in large part due to a sharp increase in the shipment to the United States of AI servers and other computer and electronic equipment. Imports of tech inputs from Taiwan have also surged.

On Wednesday, the OECD also raised its 2026 growth forecasts for the global economy and the U.S. economy. The organization anticipates economic growth of 2.9% for the world as a whole and 2.2% for the United States. The OECD lowered its 2026 growth forecast for Canada’s economy to 0.9% from a previous prediction of 1.2%.