The main purpose of this paper is to analyze the importance of social exclusion and its relationship to economic growth in the main Mexican regions. The principal components technique was used to build a multi-dimensional indicator based on the information provided by the Mexican Institute for Statistics and Geography (INEGI), by taking into account the main factors provoking such exclusion. An econometric inference on the regional growth was made using the spatial panel data to find the direct and indirect effects that it has on the social exclusion in the different regions of this country.