Economy Local February 03, 2025

Economic Growth in Toluca Reaches 2.6% in Q3 2024

Toluca's economic policies led by Delfina Gómez have resulted in a 2.6% growth in economic activity in Q3 2024, surpassing the national average of 1.6%. This growth positioned the State of Mexico as the eleventh region with the highest economic performance in the country, showing significant recovery and strengthening its economic dynamism.


Economic Growth in Toluca Reaches 2.6% in Q3 2024

The Government of Delfina Gómez Álvarez implemented economic policies that boosted the growth of economic activity in the State of Mexico. In the third quarter of 2024, the entity recorded a growth of 2.6%, surpassing the national average of 1.6%. These data originate from the Quarterly Indicator of State Economic Activity (ITAEE) of INEGI, which highlights the rise of the State of Mexico to 11th place among the 32 entities in the country in economic growth.

This progress reflects a significant recovery, as the State of Mexico moved from 24th place in the second quarter of 2024 to 11th place in the third quarter of the same year. This annual growth of 2.6% exceeds the annual average of the last twenty-one years, which was 2.2%. From October 2023 to December 2024, economic activity in the state grew by 2.4% annually, representing an improvement of five tenths of a percentage point compared to the national average during that period.

Regarding the historical performance of the economy of Mexico, secondary activities grew by 4.7% annually, tertiary activities increased by 1.74%, and primary activities saw a variation of 2.38%. By sectors, construction grew by 13.6%, manufacturing industries by 3.6%, commerce by 3.2%, and logistics activities by 5.3%.

According to data from INEGI's Economic Censuses, the State of Mexico experienced a significant increase in the number of economic units, rising from 767,547 in 2019 to 896,931 in the last census. This represents a growth of more than 129,000 establishments, marking the largest increase in the last four censuses. Of the total establishments counted, 51.5% were engaged in commercial activities, 38.0% in services, 9.5% in manufacturing, and 1.0% in other activities.

These results confirm the trend of sustained growth in the State of Mexico, consolidating its role as a key entity for the economic development of the country.