Queretaro, Qro. During 2022, the economic activity of Querétaro grew 3.7% at an annual rate, an advance that was mainly influenced by the tertiary sector, reports the Quarterly Indicator of State Economic Activity (ITAEE).
The growth achieved by the local economy was 2.5 percentage points below the increase of 6.2% in 2021, exposes the ITAEE issued by the National Institute of Statistics and Geography (Inegi).
Tertiary activities registered the most significant increase in 2022, reaching an annual variation of 4%, while secondary activities grew 3.4% and primary activities, 1.5 percent.
The tertiary sector was also the one that contributed the most to local growth, contributing 2.3 percentage points (to the state variation of 3.7 percent.
In contrast, a year ago -when the local economy grew 6.2% at an annual rate-, secondary activities were the main driver, after collaborating with 3.5 percentage points.
According to the quarterly results of the ITAEE, in the period October-December 2022 the economy of Querétaro grew 3.5%, the second best quarterly performance in that year; This advance positioned it in 14th place among the 32 entities, almost in line with the national average, which was also around 3.5 percent.
Primary activities -which include agriculture, breeding and exploitation of animals, forest use, fishing and hunting- grew 2.3% in the fourth quarter of 2022, to a greater extent due to the behavior of breeding and exploitation of animals, as well as the Agriculture. In this category, Querétaro was placed in 21st place, below the national average, which was 6.3 percent.
In secondary activities -related to manufacturing, construction, electricity and mining- the annual increase was 1.4%, placing Querétaro in position 16.
Meanwhile, tertiary activities -which involve service sectors, distribution of goods, operations with information or assets, government- grew annually 4.9% in the last quarter of 2022; In this case, Querétaro stood out as the fourth state with the highest growth, only below Quintana Roo (7.6%), Sinaloa (6.1%) and Mexico City (4.9 percent).
The economic activity of the central-south region, to which Querétaro belongs, grew 4% annually in the fourth quarter of 2022; primary activities advanced 8.3%, secondary 5.7% and tertiary 2.8 percent.
This region includes the states of Puebla, Hidalgo, Michoacán, Querétaro, Guerrero, Tlaxcala and Morelos.
