The Value Added of Textiles, Wearing Apparel, Leather Products in Mexico has shown a consistent upward trajectory from 2013 to 2023, with the value standing at 182.2 billion Mexican Pesos in 2023. When examining the year-on-year variation, the sector experienced significant growth fluctuations, with peaks such as a 14.35% rise in 2015 and more stable increments, like 2.51% in 2023. The CAGR over the last five years (2018-2023) was 2.57%, indicating a moderating growth rate compared to earlier periods.
Forecasts from 2024 to 2028 predict a continued upward trend, albeit at a slower pace, with an expected CAGR of 1.72% and an overall growth rate of 8.92% over the five-year forecast period. Key points include:
- Steady growth in value, though at reduced year-on-year rates projected around 2% annually.
- A shift from high volatility to more stable, albeit slower, growth patterns.
Future trends to watch for include potential impacts of global supply chain disruptions, evolving trade policies, and shifts in consumer demand towards sustainable textile and apparel products.
