The export of domestic appliances incorporating electric motors from Mexico stood at 286.66 million USD in 2023, marking a steady decline from the peak value of 633.9 million USD recorded in 2013. The compound annual growth rate (CAGR) over the last five years has been -4.07%, reflecting an ongoing downward trend. Year-on-year, the value from 2022 to 2023 saw a decrease of 5%, following a similar reducing trend in the previous year (2021 to 2022) at -4.85%.
Looking ahead, forecasts indicate a continuation of this downward trajectory, with the value expected to decrease to 207.9 million USD by 2028. The predicted CAGR for the next five years is -5.1%, culminating in an overall decline of 23.03% from 2023 to 2028.
Future trends to watch for include potential impacts of technological advancements, shifts in global trade policies, and economic conditions affecting consumer demand for domestic appliances. The influence of emerging markets and the adoption of more energy-efficient appliances could also play significant roles in shaping the export landscape.
