From 2013 to 2023, Mexico's agricultural value added as a percentage of GDP displayed a growth trend despite occasional fluctuations. The notable increase between 2019 and 2020 was driven by a 12.42% rise, followed by a stabilization period with minimal year-on-year variations. As of 2023, the value stood at 3.56% of GDP.
Forecasting into the future (2024-2028), the agricultural value added is predicted to remain steady at around 3.55% of GDP, with a forecasted 5-year CAGR of -0.05% indicating a slight decline. This suggests a potential stabilization or marginal slowdown in the agricultural sector's growth.
Future trends to watch for include:
- Impact of technological advancements in agriculture on productivity.
- Potential effects of climate change on crop yields and agricultural sustainability.
- Shifts in agricultural policies and trade agreements affecting Mexico's agricultural sector.