Mexico's economy grew at a rate of 1.4 percent in 2013, according to an upwardly revised estimate of the country's gross domestic product (GDP) reported by national statistics agency INEGI on Friday.

INEGI, which previously estimated 2013 GDP growth at 1.1 percent, said in a statement the new figure was mainly due to a more complete picture of financial sector activity.

The agency also upwardly revised GDP growth rates for previous years. INEGI said the Mexican economy expanded 3.92 percent in 2011, up from a previously reported 3.84 percent, and 4.03 percent in 2012, up from 3.94 percent.

Mexico's economy is set to grow by 2.7 percent in 2014, and by 3.7 percent in 2015.