The textiles manufacturing output in Mexico has shown significant fluctuations over the past decade. From 2013 to 2019, it generally trended upward, emphasizing a stable growth period with occasional minor setbacks, such as a 4.22% decline in 2019. The most notable downturn was in 2020 with a 19.29% reduction, likely impacted by the global pandemic. However, the sector rebounded strongly in 2021 with a 30.32% year-on-year increase. In 2023, the output stood at 163.89 billion Mexican Pesos, marking a 3.56% rise from the previous year. The five-year CAGR up to 2023 was 2.34%. The forecast for the coming years remains positive, with a projected growth rate of 12.91% and a five-year CAGR of 2.46%, suggesting a steady upward trajectory.
Future trends to watch for include:
- Technological advancements and automation in manufacturing processes.
- Potential impacts of global economic shifts and trade policies.
- Sustainability practices and the shift towards eco-friendly materials.
- Investments and innovations in digital textile printing and smart fabrics.
