Forecast: Agricultural Products and Livestock Output in Mexico

The output of Agricultural Products and Livestock in Mexico has experienced consistent growth from 2013 to 2023, showcasing the sector's vitality. By 2023, the sector reached a substantial value of 1,876 billion Mexican Pesos, marking a significant year-on-year growth of 11.43% from the previous year. The five-year CAGR for 2023 stands at an impressive 9.77%, reflecting the robust average annual increase in production value.

Key observations over the past years include:

• Strong growth phase from 2013 to 2016, with a notable surge in 2016 of 11.88% year-on-year.
• Continued positive momentum from 2017 to 2020, maintaining high year-on-year growth rates around 7-12%.
• A marked acceleration in 2021 and 2022, where year-on-year growth peaked at 12.41% and 13.55%, respectively.

Looking ahead, the forecast for 2024 through 2028 suggests that while growth is expected to moderate slightly, it remains robust. The sector is projected to grow at a forecasted five-year CAGR of 6.37% with a total growth rate of 36.16% by 2028.

Future trends to watch for include:

• Technological advancements in farming techniques and livestock management.
• Impact of climate change and efforts in sustainable agricultural practices.
• Shifts in domestic and international demand for agricultural products.