The production volumes of ships and boats building in Mexico experienced considerable fluctuations from 2013 to 2023. The value peaked in 2013 at 7.71 billion Mexican Pesos and saw a significant drop by 2014. There was a mixture of growth and declines year-on-year, with noticeable downturns in 2016 and 2020, and growth periods like in 2018 and 2021. By 2023, the value stood at 4.53 billion Mexican Pesos, marking a slight decline of 0.44% from the previous year. Over the last five years, the compound annual growth rate (CAGR) was -2.77%, indicating an overall downturn.
Looking forward, the forecast data from 2024 to 2028 suggests a marginal decline, with a forecasted 5-year CAGR of -0.36%. This points towards a steady but slight decrease in production volumes in the coming years.
Future trends to watch for include:
- Technological advancements in shipbuilding that could boost efficiency and reduce costs.
- Changes in international trade policies and their impacts on demand for ships and boats.
- Environmental regulations and their influence on production processes and materials used.
