From 2013 to 2017, Mexico saw a steady rise in the import value of blades for knives for hand use. The highest growth was noted in 2015, with a 22.65% year-on-year increase. However, in 2018, the import value dropped by 29.59%, recovering partially in the subsequent years. As of 2023, the import value stood at 9.7722 million USD, marking a minimal increase of 1.77% from the previous year. Over the last five years, the compound annual growth rate (CAGR) has averaged 4.6%, indicating a relatively steady growth despite some fluctuations.
Looking into the future, the forecast data suggests a gradual upward trend in imports, with an expected average annual growth rate of 1.37% over the next five years. Even though these growth rates are lower compared to earlier periods, a consistent rise in value is anticipated, reaching 10.659 million USD by 2028. The forecasted 5-year growth rate is pegged at 7.04%, signifying moderate yet stable market conditions.
Future trends to watch for include:- Potential shifts in global trade policies impacting import costs.- Technological advancements driving higher demand for specialized knife blades.- Economic conditions affecting consumer purchasing power and thus import volumes.