The telecommunications industry, an economic sector that supports 268,000 Mexican families, registered a collection of approximately US$ 7.7 billion.

The Mexican telecommunications industry as a whole registered a 3.82% year-on-year decline in its revenue level for the second quarter of 2024; and also recorded a 6.5% drop in comparisons of its cash receipts from the second quarter against the first of this year, according to reports from the companies themselves to the Federal Telecommunications Institute (IFT).

The telecommunications industry, an economic sector that supports 268,000 Mexican families by providing services for 24.6 million fixed telephone connections, 23.16 million broadband accesses, another 16.75 million pay television and 148 million mobile telephone accesses, among other products and services, registered a collection of 151.5 billion pesos, approximately US$ 7.7 billion in the second quarter of 2024.

The data for the second quarter of 2024 represents a 3.82% decline compared to the 157,528 million pesos that the industry raised in the market during the second quarter of 2023 and is 6.5% below the 162,049 million pesos it raised in the first quarter of 2024, traditionally the weakest period for the Mexican economy.

Between the first and second quarters of 2024, the Mexican telecommunications sector saw a decrease of 10.549 billion pesos in its revenue level, approximately US$ 535 million.

The decline in the level of income of this industry, which does not include income from the broadcasting sector because it is a different type of business, is consistent with the slowdown in the country's GDP for the same periods and, in turn, is in line with the increase in inflation recorded by the economy in those periods.

For the first quarter of 2024, Mexico registered a growth of 1.93% in real terms and 1.0%, also in real terms, during the second quarter. Even in that quarter, tertiary activities, which add the most value to an economy, advanced 1.5%, according to Inegi.

Meanwhile, inflation rose from 4.41% in the last quarter of 2023 to 4.57% in the first quarter of 2024 and from there to 4.77% in the second quarter, data that would reflect a decrease in the level of revenue collection in the telecommunications sector, as Mexicans reconsidered the hiring of this type of products and services.