Hidalgo Leads Mexico in Economic Growth
Over the past five years, a period marked by the start of the post-pandemic recovery and an environment of global and domestic uncertainty, the fastest-growing state economies were Hidalgo, Oaxaca, and San Luis Potosí, while Campeche, Nayarit, and Quintana Roo were the only states to report declines in economic activity.
Based on data from the National Institute of Statistics and Geography (Inegi), Hidalgo recorded the highest average growth rate in the Quarterly State Economic Activity Indicator (ITAEE) over the past five years, at 5.4%.
The main driver of growth was the secondary sector, which expanded 8.1%, particularly construction, which grew 20.1% during the period under review. Mining and manufacturing also posted increases of 5.1% and 5.0%, respectively.
Significant growth was also recorded in cultural, sports, and recreational services, as well as temporary accommodation and food and beverage services, which increased 8.5%, while agriculture and livestock grew 5.6%.
The only declines were recorded in electricity generation, which fell 5.2%, and in a group of services that includes professional, scientific, and technical services; corporate services; business support services; waste management and remediation services; and other services excluding government activities, which declined 0.6%.
Key growth drivers in Hidalgo in recent years have included the expansion of social housing through the Housing for Bienestar Program, the development of land for industrial parks, and US$6.7 billion in private investment across 120 projects.
Other initiatives include the Economic Development Hub for Bienestar (Podecobi) in Zapotlán and the Circular Economy Development Hub for Bienestar (Podecibi) at Parque Hidalgo.
