The exports of avocados from Mexico to Canada have shown significant growth over the past decade. Starting from a value of $66.7 million in 2013, it increased steadily to $262.82 million by 2023. The Year-on-Year (YoY) growth rate and the Compound Annual Growth Rate (CAGR) have fluctuated, with peaks in 2016 and 2017 due to substantial increases, followed by periods of slower growth or slight declines. Notably, between 2022 and 2023, the YoY growth was 4.79%, hinting at stabilization. Over the last two years, the YoY variations were 5.09% and 4.79%, while the five-year CAGR stood at 5.9%.
Looking ahead, the forecast for the next five years shows a slower but steady growth, with a forecasted CAGR of 3.17% and an overall growth rate of 16.89%. Future trends to watch for include potential impacts of trade policies, environmental factors affecting agriculture, and consumer preferences towards healthy eating, which may continue to drive demand for avocados in Canada.
