Mexico's basic metals exports to Spain have exhibited significant fluctuations over the past decade. In 2023, the export value stood at 16.252 million US dollars. The year-on-year variation showed a decline of 9.17%, continuing a downward trend observed from 2022 with a -8.56% change. Over the last five years, the compound annual growth rate (CAGR) indicates a negative -9.4% trend.
Looking ahead to the forecast period from 2024 to 2028, the CAGR is expected to decline further at -11.88%. By 2028, the export value is projected to fall to 7.6782 million US dollars, marking a considerable reduction over five years with a forecasted 46.86% decrease.
Future trends to watch for include:
- Global economic factors affecting metal demand and prices.
- Potential trade policy changes between Mexico and Spain.
- Technological advancements in metal production and alternatives.
- Environmental regulations impacting production and export logistics.
