The industrial machinery value added in Mexico grew steadily from 2013 to 2019, with annual variations ranging from 2.23% to 7.39%. However, 2020 marked a turning point with a slight decline of 1.01%, followed by a sharper decrease in 2021, reflecting a year-on-year drop of 9.30%. The subsequent years showed moderate recovery with values increasing by 1.37% in 2022 and 1.35% in 2023, bringing the value to 31.85 units in 2023.
The compound annual growth rate (CAGR) over the last five years reflects a negative trend, with a -1.07% change, indicating a slowdown. Nevertheless, the forecasted data from 2024 to 2028 suggest a gradual improvement with an average annual growth rate of 1.01%, culminating in a total growth of 5.13% by 2028.
Future trends to watch for include:
- Technological advancements driving efficiency and productivity.
- Impact of global economic conditions on Mexico's manufacturing sector.
- Local and international policy changes affecting trade and tariffs.
- Investment in sustainable and eco-friendly industrial practices.
- The potential influence of emerging markets and shifts in global supply chains.
