Forecast: Mining and Quarrying Gross Value Added in Mexico

Analyzing the Mining and Quarrying Gross Value Added in Mexico from 2013 to 2023 reveals a significant fluctuation, with values initially dropping from 2013 to 2015, a slight recovery up until 2019, a decline in 2020, and a steady increase from 2021 onwards. As of 2023, the value stood at 1.0993 Trillion Mexican Pesos, marking a 3.31% year-on-year increase. Over the last two years (2022-2023), the industry grew by 3.31%, indicating stabilization. The last five years leading up to 2023 showed a CAGR of 3%, hinting at a more sustained upward trend.

Future trends to watch for:

• The forecast period from 2024 to 2028 predicts continued growth, with an estimated CAGR of 2.3%, and a total increase of 12.02% over five years.
• Technological advancements in mining operations and sustainability initiatives are expected to play a critical role.
• Global economic shifts and policies affecting trade and environmental regulations could have significant impacts on the sector's future performance.