A study by the research and economic statistics company BBVA Studios shows significant growth in avocado planting hectares and increased gross domestic product (GDP) in Mexico.

The organization, formerly known as Servicio de Estudios, reports substantial growth in avocado plantations over the last 20 years. In 2000, 93,500 hectares were planted with avocados in the country, while by 2020, new plantations reached 241,100 hectares, marking an estimated growth of 157%.

According to the study, the industry is valued at US$3 billion per year. In Mexico, the industry was valued at 36.7 billion Mexican pesos (about US$2 billion) in 2018, an increase of more than 10 billion pesos in just five years.

In 2019, the industry was valued at 74.6 billion Mexican pesos (US$4.2 billion), its highest value recorded. 

From 2020 to 2022, the industry experienced a gradual decrease in production, although local consumption remained at an all-time high.

Avocado consumption and exports in Mexico are gradually increasing and are not expected to slow down, BBVA reports, adding that the industry is experiencing an estimated annual growth of 3.2%. 

The fruit not only fuels Mexico's economy but also has a significant impact on the economies of its trading partners.

US economy boost

A recent analysis by Texas A&M University of the 2021-22 season found that exports from Mexico to the U.S. jumped to more than 2 billion pounds annually, and more than 4 billion pounds in the last two years alone. 

The report shows that U.S. imports of Mexican Hass avocados contributed $11.2 billion in output or spending and 6.1 billion to the country's GDP in 2021-22.

According to the report, the United States has also benefitted from Hass avocado imports.

Avocado consumption skyrocketed by a whopping 612% from 2020 to 2021, driven by the growing Latino population, inclusion of the fruit in restaurants, an intensifying U.S. consumer trend toward health-promoting foods, a growing preference for Mexican-imported avocados, and a reported preference for the Hass variety.