The forecast for Mexico's furniture exports to South Korea shows a steady increase from 2024 to 2028. Starting from a base of 1.5578 million USD in 2024, the value is projected to reach 1.804 million USD by 2028. Given that we are in 2024, the actual value for 2023 stood at approximately 1.499 million USD, indicating both the beginning and the forecasted growth.
The year-on-year percentage variations forecasted show incremental annual increases:
- 2024: +3.9%
- 2025: +4.1%
- 2026: +3.8%
- 2027: +3.6%
- 2028: +3.4%
The Compound Annual Growth Rate (CAGR) over the 5-year period from 2024 to 2028 is approximately 3.76%, reflecting moderate but consistent growth.
Future Trends to Watch For: The key factors driving future trends include evolving consumer preferences in South Korea, trade policies impacting tariffs, and the competitive landscape involving other furniture-exporting nations. Monitoring shifts in these areas can provide further insights into the export dynamics and potential areas for market expansion.