Between 2013 and 2023, the Gross Value Added (GVA) in Mexico's Chemicals Manufacturing sector exhibited fluctuating year-on-year changes, prominently marked by a decline in 2014 (-10.88%) and subsequent recovery with growth peaks in 2016 (6.94%) and 2021 (10.11%). The sector saw relatively stable growth, culminating in a value of 324.61 billion Mexican Pesos in 2023, with a 5-year CAGR of 3% leading up to 2023.
- In 2022, GVA increased by 10.57% year-on-year.
- In 2023, there was minimal growth with a year-on-year increase of 0.16%.
- Future forecasts suggest moderate growth with a predicted CAGR of 1.82% over the next five years, reaching 364.02 billion Mexican Pesos by 2028.
Future trends to watch for include the impact of technological advancements, sustainability initiatives within the chemical sector, and potential shifts in trade policies that may affect the import-export dynamics impacting GVA.
