The informal economy participated with 24.8% of GDP during 2023, an increase of 0.4 percentage points compared to the previous year, according to current or current values published by Inegi this Thursday.
The above means that for every 100 pesos of GDP that year, people employed in the informal sector contributed 25.
The statistics institute explained that from the point of view of employment, informality includes different modalities.
The informal sector is made up of unincorporated companies, which are owned by households dedicated to economic activities related to the production of goods and services, and that operate without tax registration and without social security.
The sector is also made up of other forms of informality, which are the forms of work used by companies or organizations that do not provide access to social security or other benefits.
The Inegi detailed that of the total informal economy, the informal sector contributed to the GDP with 13.8% and the other modalities, with 11%.
The activity with the highest participation within the informal economy was retail trade, with 28.8%, an increase of 0.2 percentage points compared to 2022.
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The second activity with the highest participation was the manufacturing industry, which accounted for 13.6%, 0.2 percentage points less than the previous year.
Within the informal sector (where the activities carried out by households are located), retail trade was the activity with the greatest participation and increased its contribution from 43.5 to 44.1%.
Retail trade and construction contributed more than two-thirds of the informal sector, reaching 68.4%.
Within the other modalities category, the agricultural sector was the one that had the greatest weight with 26.1%, 1.1 percentage points more compared to 2022.
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At constant values (at 2018 prices) or by eliminating the effect of inflation, the Mexican economy grew 3.3% in 2023, and internally the informal economy slowed to 1.9%, from 4% in 2022.
Of that 1.9% variation in the informal economy, the informal sector slowed to 3.4% from 3.9% in 2022, and the other modalities also moderated to 0.3% from 4%.
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