The Value Added of Agriculture, Hunting, and Forestry in Mexico has shown steady growth from 2013 to 2023, with the value standing at 908.91 billion Mexican Pesos in 2023. The annual year-on-year variation has fluctuated, reaching its peak in 2016 with a 13.54% increase and its lowest in 2019 with a 2.44% increase.
Over the last two years, 2022 and 2023, the year-on-year growth rates were 3.48% and 3.3%, respectively, indicating a slight deceleration. The compound annual growth rate (CAGR) over the last five years was 3.36%, showing moderate growth.
For the future, from 2024 through 2028, the forecasted CAGR is lower at 2.21%, suggesting an anticipated slower growth rate compared to previous years. The total projected growth rate over these five years is 11.55%.
Future trends to watch for include:
- The impact of climate change on agricultural productivity.
- Technological advancements in farming techniques and their adoption.
- Changes in government policies affecting the agriculture sector.
- Market demand fluctuations for agricultural products both domestically and internationally.
