In 2023, the import of non-monetary gold in unwrought forms to Mexico stood at 39.308 million USD. This represents a decrease of 12.76% from the previous year, 2022, which had a value of 45.057 million USD. The year before that, in 2021, the import value was 53.469 million USD, illustrating a consecutive two-year decline in imports, totaling a reduction of 26.53% from 2021 to 2023.
Over the last five years, the Compound Annual Growth Rate (CAGR) has been -13.32%, indicating a consistent downward trend in the import values. The outlook for the next five years forecasts a further decline, with an anticipated CAGR of -22.25%. By 2028, imports are expected to diminish significantly to only 9.4282 million USD, a stark fall of 71.58% from the 2023 figure.
Future trends to watch for:
- Global gold market fluctuations and their impact on prices.
- Changes in Mexico's trade policies relating to precious metals.
- Effect of economic conditions on Mexico's import capacity.
- Potential shifts in the demand for gold driven by industrial, investment, and consumer requirements.
