The production of business services in Mexico has demonstrated consistent growth from 2013 through 2023, standing at 17.85 trillion Mexican Pesos in 2023. This growth reflects a stable upward trend, with year-on-year variations peaking at 9.33% in 2016 and dipping to -1.43% in 2020. The compound annual growth rate (CAGR) over the last five years shows a deceleration from 7.73% in 2018 to 3.27% in 2023.
For the upcoming years (2024-2028), the production is forecasted to grow steadily by 12.3% overall, with a five-year CAGR of 2.35%. Although the growth rate is reduced compared to previous years, it remains positive and indicates ongoing expansion.
Future trends to watch for include:
- Potential economic factors that could affect business service growth rates.
- Technological advancements and their impact on business service productivity.
- Changes in global trade policies affecting Mexico's business environment.
- Emerging market opportunities and their influence on the business service sector.