The textiles, wearing apparel, and leather products manufacturing sector in Mexico showed fluctuating growth rates from 2013 to 2023. The sector stood at 425.56 billion Mexican Pesos in 2023, with a YoY growth of 1.92% and a CAGR of 1.06% in the last five years. Notably, the sector experienced a significant downturn in 2020 with a -26.36% YoY change, followed by a robust recovery in 2021 with a 26.55% YoY increase.
Future trends to watch for:
- Technological advancements and automation in manufacturing processes
- Sustainable fashion and ethical manufacturing practices
- Impact of trade policies and agreements on exports and imports
- Consumer demand shifts towards eco-friendly and durable products