From 2013 to 2023, the production volumes of clothing in Mexico showed fluctuations with some notable trends. The year-on-year variations ranged from a high increase of 19.75% in 2021 to a significant drop of 17.51% in 2020. However, the overall compound annual growth rate (CAGR) for this period has been negative, reflecting a declining trend in production volumes.
In 2023, the production reached 153.5 billion Mexican Pesos, nearly a 0.59% decrease from the previous year, continuing the downtrend observed in the recent years. Going forward, by 2028, the forecasted CAGR is expected to be -0.5%, leading to a further anticipated decline in production volumes by approximately 2.47% over the next five years.
Future trends to watch for include:
- The impact of global economic conditions on apparel manufacturing.
- Changes in trade policies and agreements affecting import and export.
- Shifts towards sustainable and eco-friendly production methods.
- Technological advancements in manufacturing processes.
- Consumer behavior trends pivoting towards quality over quantity.
