State of Colima is # 1 in economic growth 2010: INEGI

In the fourth quarter of 2010, the state of Colima recorded a 19.3 percent increase in economic activity, the highest of the 32 states of Mexico and well above the national average which was 4.6 %.

The National Institute of Statistics and Geography (INEGI) reports that based on the State Quarterly Indicator of Economic Activity (ITAE) in October-December period last year, the states that showed the most significant annual increases were Colima and Chiapas with 19.3 and 12.3 percent respectively.

They were followed by Tlaxcala with 9.0 percent; Puebla with 8.0; San Luis Potosi 7.9; Hidalgo with 6.6; Querétaro with 6.4; Nuevo Leon 6.2; Jalisco and Mexico state with 6.1 each; Sinaloa 6.0; and Coahuila and Morelos with 5.5 percent each.

In contrast, Campeche had decreased economic activity (-1.4), as did Nayarit ) -0.3) percent per year in the fourth quarter of 2010, while Oaxaca remained unchanged.

The INEGI tracks details in regard to agriculture, livestock, forestry, fishing and hunting, and the states with the greatest improvements in these resources were Sinaloa at 41%; Quintana Roo 38.6; Tamaulipas 26.4; Nuevo Leon 25.9; San Luis Potosi 22.8;  Aguascalientes 22.2; Queretaro 21.4; and Michoacan 19.3.

In contrast, there were major setbacks in the Federal District with decreases 24.2 percent; Chihuahua 4.6; Nayarit 4.4; Sonora and Tabasco 3.7 each; Veracruz 1.8; and Baja California with 0.5.

Meanwhile, the states that showed the most significant advances in industrial activities (mining, electricity, water and gas supply pipeline to the final consumer, construction, and manufacturing) in the reference period were Colima and Chiapas with 63.9 and 37.7 percent, respectively.

In contrast, the agency says that nine states showed declines in the period in question, including Nayarit, Oaxaca, Quintana Roo, Michoacán, Sinaloa, Mexico City and Campeche.

With regard to activities related to services, the states that saw the largest annual increases in the fourth quarter of 2010 were Hidalgo, Tabasco, Colima, Nayarit, Quintana Roo and Sonora.
By contrast, less progress was reported in Veracruz, Zacatecas, Morelos, Oaxaca, San Luis Potosi and Tamaulipas.

INEGI said that the Indicator of State Economic Activity Quarterly  (ITAE) includes preliminary information on various economic activities and therefore must be regarded as an indicator of trend or direction of the statewide economy in the short term.

Translated from Radio Levy.