The analysis of Mexico's Crude Petroleum and Natural Gas Extraction Gross Value Added from 2013 to 2023 shows a significant decline in value between 2013 and 2016, followed by a gradual recovery. The sector experienced an erratic trend with major drop-offs, notably in 2015 and 2020. However, from 2017 onwards, there's an overall positive growth trend, with the value in 2023 standing at 595.36 billion Mexican Pesos. The year-on-year variations revealed rebounds like the 35.89% increase in 2017 but also sharp declines, particularly in 2015 and 2020.
From 2024 onwards, projected data indicate a consistent growth trajectory for the sector, with a 5-year CAGR of 3.57%. The forecast shows progressive values reaching up to 746.07 billion Mexican Pesos by 2028, indicating a more stable and positive outlook compared to previous years.
Future trends to watch for include:
- Potential impact of global oil price fluctuations on Mexico’s petroleum revenue.
- The influence of new policies or regulations on the extraction industry.
- Technological advancements and investments in extraction processes that could drive efficiency and productivity.
- Environmental and sustainability challenges that may affect operational strategies.
