The export value of electrical equipment from Mexico to the US has shown a steady increase over the last decade, reaching $37.8 billion in 2023. Actual data from 2013 to 2023 illustrates moderate fluctuations, with notable year-on-year growth rates such as 13.09% in 2014 and 8.51% in 2018. However, recent growth has been more modest, with a 2.2% increase in 2022 and a 2.11% increase in 2023. The compound annual growth rate (CAGR) over the last five years stands at 1.88%.
From 2024 onwards, forecasted growth continues but at a slower pace, suggesting a future CAGR of 1.47% until 2028, alongside an overall growth rate of 7.55% over this period. By 2028, exports are projected to reach $41.479 billion.
Future trends to watch for:
- Technological advancements in electrical equipment manufacturing
- Changes in US trade policies affecting imports from Mexico
- Impact of global supply chain disruptions and geopolitical developments
