Thailand’s rubber and plastic products exports to Mexico showed significant growth from 2013 to 2017, from $95.319 million in 2013 to $158.91 million in 2017, showcasing an average year-on-year growth of around 13.65%. A small decline occurred in 2018, followed by a recovery into 2019. An unexpected dip in 2020 was likely due to global disruptions. Post-2020, strong recovery occurred with exports reaching $170.37 million in 2021 and further to $193.16 million in 2023. The compound annual growth rate (CAGR) from 2019 to 2023 was about 4.39%.
Future trends:
- From 2024 onwards, a steady increase is forecasted with a 2.68% CAGR over the next five years.
- Watch for potential impacts from economic shifts, trade policies, and sector-specific advances which could influence this export sector.
