Economy, jobs and prices in Veracruz, Mexico: official figures
The gross domestic product of Veracruz was 1.45 trillion pesos in 2024 at current prices, according to INEGI, 4.3% of Mexico's 33.58 trillion pesos and 6th largest of 32 federal entities. In current pesos it was up 6.9% on 2023.
How fast is the economy of Veracruz growing?
After removing price changes, the economy of Veracruz grew 3.4% in 2024, against 1.5% for Mexico as a whole; 8th fastest growth of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHas the economy of Veracruz grown since 2018?
In real terms GDP in Veracruz was 6.7% higher in 2024 than in 2018 (Mexico 5.0% higher), 10th largest growth of 32. Since 2003 it has grown 23.2% in real terms (Mexico 41.9%), and its share of national GDP has moved from 4.72% to 4.31%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the GDP per capita of Veracruz?
Dividing 2024 GDP by CONAPO's mid-2024 population gives 178,128 pesos per person in Veracruz, 0.70 times the national figure of 253,888 pesos; 9th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat are the main industries in Veracruz?
In 2024 tertiary activities (trade and services) made up 63.6% of gross value added in Veracruz, secondary activities (industry, mining, construction and utilities) 29.5% and primary activities (farming, livestock, forestry and fishing) 7.0% (10th highest farm share of 32; Mexico 4.1%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow important is manufacturing in Veracruz?
Manufacturing produced 15.2% of gross value added in Veracruz in 2024 (15th lowest of 32; Mexico 21.5%), and mining 3.7%. Oil and gas extraction alone accounted for 2.6%. Hotels and restaurants accounted for 2.2% (15th highest of 32).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the unemployment rate in Veracruz?
The unemployment rate in Veracruz was 1.9% in April to June 2026, according to INEGI's ENOE labour force survey, against 2.7% for Mexico; 8th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat was the unemployment rate in Veracruz in 2025?
A year earlier, in April to June 2025, the ENOE put unemployment in Veracruz at 2.3% (Mexico 2.7%; 12th lowest of 32), with 3,398,317 people in work and labour force participation of 54.6%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow many people work in Veracruz?
About 3,310,652 people in Veracruz were working in April to June 2026 and 64,397 were unemployed. 52.2% of residents aged 15 and over were in the labour force (the lowest of 32; Mexico 59.1%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow many workers in Veracruz are informal?
69.1% of employed people in Veracruz worked informally in April to June 2026 (without social security through their job or in unregistered businesses), against 55.1% nationally; 8th highest of 32. A year earlier the rate was 70.1%.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyIs informal work in Veracruz falling?
Labour informality in Veracruz was 69.1% in April to June 2026, up 0.9 percentage points on the same quarter of 2019 (68.2%) and up 1.4 percentage points on 2005 (67.7%), when INEGI's quarterly series begins.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat jobs do people do in Veracruz?
In April to June 2026, 72.4% of workers in Veracruz had no access to health services through their work, 59.9% were salaried employees, and 10.4% worked in manufacturing; 18.9% worked in farming, livestock, forestry or fishing.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the average wage in Veracruz?
Employed people in Veracruz earned an average of 59.83 pesos per hour worked in April to June 2026 (Mexico 70.26 pesos; 7th lowest of 32), and worked an average of 40.8 hours a week (Mexico 41.5).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the average household income in Veracruz?
Average current income per household in Veracruz was 53,030 pesos a quarter in 2024 (about 17,677 pesos a month), against 77,864 pesos for Mexico, according to INEGI's ENIGH household survey; 4th lowest of 32.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyIs household income rising in Veracruz?
At constant 2024 prices, average household income in Veracruz was up 7.5% on 2022 and up 7.0% on 2016 (Mexico up 10.8% since 2016).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyWhat is the income per person in Veracruz?
Income per person in Veracruz averaged 16,487 pesos a quarter in 2024 (Mexico 23,217 pesos; 5th lowest of 32). The richest tenth of people had 12.2 times the average income of the poorest tenth.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow unequal is income in Veracruz?
The Gini coefficient of income per person in Veracruz was 0.385 in 2024 (Mexico 0.417), 15th most unequal of 32; in 2016 it was 0.457.
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow much do households in Veracruz spend?
The 2,516,408 households of Veracruz spent an average of 43,572 pesos a quarter on current consumption in 2024 (Mexico 61,309 pesos); 39.8% of their cash spending went on food, drink and tobacco (Mexico 37.7%).
Source: Instituto Nacional de Estadistica y Geografia (INEGI) · saved copyHow Veracruz compares with other states
GDP at current prices, 2024 (2024)
Veracruz ranks 6 of 32, highest first.
| Rank | Region | GDP at current prices, 2024 |
|---|---|---|
| 3 | Nuevo Leon | 2.70 trillion pesos |
| 4 | Jalisco | 2.53 trillion pesos |
| 5 | Guanajuato | 1.52 trillion pesos |
| 6 | Veracruz | 1.45 trillion pesos |
| 7 | Baja California | 1.29 trillion pesos |
| 8 | Chihuahua | 1.29 trillion pesos |
| 9 | Coahuila | 1.24 trillion pesos |
GDP per person, 2024 (GDP / CONAPO mid-2024 population) (2024)
Veracruz ranks 24 of 32, highest first.
| Rank | Region | GDP per person, 2024 (GDP / CONAPO mid-2024 population) |
|---|---|---|
| 21 | Zacatecas | 204,554 pesos |
| 22 | Michoacan | 184,851 pesos |
| 23 | Hidalgo | 180,043 pesos |
| 24 | Veracruz | 178,128 pesos |
| 25 | State of Mexico | 173,661 pesos |
| 26 | Morelos | 173,058 pesos |
| 27 | Nayarit | 171,577 pesos |
Real GDP growth, 2024 (2024)
Veracruz ranks 8 of 32, highest first.
| Rank | Region | Real GDP growth, 2024 |
|---|---|---|
| 5 | Puebla | 4.1% |
| 6 | Guanajuato | 4.1% |
| 7 | Baja California Sur | 3.8% |
| 8 | Veracruz | 3.4% |
| 9 | Nuevo Leon | 3.4% |
| 10 | Hidalgo | 2.9% |
| 11 | Tamaulipas | 2.7% |
Real GDP growth, 2018-2024 (cumulative) (2018-2024)
Veracruz ranks 10 of 32, highest first.
| Rank | Region | Real GDP growth, 2018-2024 (cumulative) |
|---|---|---|
| 7 | Baja California | 8.2% |
| 8 | Nuevo Leon | 7.9% |
| 9 | Michoacan | 7.8% |
| 10 | Veracruz | 6.7% |
| 11 | Jalisco | 6.3% |
| 12 | Sonora | 5.4% |
| 13 | Durango | 5.4% |
Manufacturing share of gross value added, 2024 (2024)
Veracruz ranks 18 of 32, highest first.
| Rank | Region | Manufacturing share of gross value added, 2024 |
|---|---|---|
| 15 | Morelos | 22.0% |
| 16 | Jalisco | 22.0% |
| 17 | Durango | 19.1% |
| 18 | Veracruz | 15.2% |
| 19 | Zacatecas | 14.2% |
| 20 | Oaxaca | 12.2% |
| 21 | Yucatan | 11.4% |
Unemployment rate, Q2 2026 (Q2 2026)
Veracruz ranks 25 of 32, highest first.
| Rank | Region | Unemployment rate, Q2 2026 |
|---|---|---|
| 22 | Baja California Sur | 2.3% |
| 23 | Hidalgo | 2.2% |
| 24 | Chiapas | 2.2% |
| 25 | Veracruz | 1.9% |
| 26 | Puebla | 1.8% |
| 27 | Michoacan | 1.8% |
| 28 | Yucatan | 1.7% |
Labour force participation rate (age 15+), Q2 2026 (Q2 2026)
Veracruz ranks 32 of 32, highest first.
| Rank | Region | Labour force participation rate (age 15+), Q2 2026 |
|---|---|---|
| 26 | Morelos | 57.6% |
| 27 | Tabasco | 57.5% |
| 28 | State of Mexico | 57.4% |
| 29 | Jalisco | 56.4% |
| 30 | Chiapas | 54.1% |
| 31 | Zacatecas | 54.0% |
| 32 | Veracruz | 52.2% |
Labour informality rate (TIL1), Q2 2026 (Q2 2026)
Veracruz ranks 8 of 32, highest first.
| Rank | Region | Labour informality rate (TIL1), Q2 2026 |
|---|---|---|
| 5 | Hidalgo | 72.0% |
| 6 | Michoacan | 71.3% |
| 7 | Puebla | 70.3% |
| 8 | Veracruz | 69.1% |
| 9 | Morelos | 67.2% |
| 10 | Tabasco | 66.2% |
| 11 | Campeche | 61.4% |
Average income per hour worked, employed people, Q2 2026 (Q2 2026)
Veracruz ranks 26 of 32, highest first.
| Rank | Region | Average income per hour worked, employed people, Q2 2026 |
|---|---|---|
| 23 | Hidalgo | 62.63 pesos |
| 24 | Tabasco | 61.95 pesos |
| 25 | State of Mexico | 61.14 pesos |
| 26 | Veracruz | 59.83 pesos |
| 27 | Guerrero | 59.52 pesos |
| 28 | Oaxaca | 57.40 pesos |
| 29 | Tlaxcala | 53.94 pesos |
Average quarterly current income per household, 2024 (2024)
Veracruz ranks 29 of 32, highest first.
| Rank | Region | Average quarterly current income per household, 2024 |
|---|---|---|
| 26 | Zacatecas | 60,292 pesos |
| 27 | Hidalgo | 59,461 pesos |
| 28 | Tlaxcala | 58,834 pesos |
| 29 | Veracruz | 53,030 pesos |
| 30 | Oaxaca | 52,025 pesos |
| 31 | Guerrero | 48,548 pesos |
| 32 | Chiapas | 41,084 pesos |
Average quarterly current income per person, 2024 (2024)
Veracruz ranks 28 of 32, highest first.
| Rank | Region | Average quarterly current income per person, 2024 |
|---|---|---|
| 25 | Hidalgo | 17,844 pesos |
| 26 | Puebla | 17,701 pesos |
| 27 | Zacatecas | 17,389 pesos |
| 28 | Veracruz | 16,487 pesos |
| 29 | Tlaxcala | 16,221 pesos |
| 30 | Oaxaca | 14,776 pesos |
| 31 | Guerrero | 13,531 pesos |
Gini coefficient of income per person, 2024 (2024)
Veracruz ranks 15 of 32, highest first. Gini coefficient: 0 means everyone has the same income, 1 means one person has all of it.
| Rank | Region | Gini coefficient of income per person, 2024 |
|---|---|---|
| 12 | Tabasco | 0.391 |
| 13 | Zacatecas | 0.389 |
| 14 | Jalisco | 0.389 |
| 15 | Veracruz | 0.385 |
| 16 | Quintana Roo | 0.382 |
| 17 | Aguascalientes | 0.381 |
| 18 | Morelos | 0.380 |
More on Veracruz: overview · health · education and schools · poverty and living standards · government budget · Mexico
Sources
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ingresos y Gastos de los Hogares (ENIGH) 2024, nueva serie, tables by federal entity: 1.3 (households), 2.1 and 2.3 (average quarterly current income per household and per person, deciles and Gini, 2016-2024 at constant 2024 prices), 4.5 (household spending by category), 6.1 (income and spending per household), read 23 October 2026 · saved copy (SHA-256 70b3c7ea2dc8…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ocupacion y Empleo (ENOE): strategic indicators of occupation and employment, April-June 2026, national and federal entity tables, read 23 October 2026 · saved copy (SHA-256 ad9d2139d9ee…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Encuesta Nacional de Ocupacion y Empleo (ENOE): strategic indicators of occupation and employment, April-June 2025, national and federal entity tables, read 23 October 2026 · saved copy (SHA-256 8e9948078b2c…)
- Instituto Nacional de Estadistica y Geografia (INEGI): ENOE, informalidad laboral: quarterly labour informality and informal-sector rates by federal entity and sex, 2005-2026 (Tasas_Infor_enti-1.xlsx), read 23 October 2026 · saved copy (SHA-256 d940bbd2871c…)
- Instituto Nacional de Estadistica y Geografia (INEGI): Producto Interno Bruto por Entidad Federativa (PIBE), base year 2018, series 2003-2024 (2024 revised): tables PIBE_2 (GDP), PIBE_4 (gross value added), PIBE_5, PIBE_12 and PIBE_31 (primary, secondary and tertiary activities), PIBE_13 and PIBE_14 (mining, oil mining), PIBE_18 (manufacturing), PIBE_44 (accommodation and food services), read 23 October 2026 · saved copy (SHA-256 c2de99570137…)
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