In 2023, the price of building materials in Mexico increased at a significantly lower rate than in 2021 and 2022. The annual growth rate of salaries in 2023 was much higher than that of the other types of construction costs. Salaries had an annual growth rate from around three to four percent until 2016, since then they have been rising at a faster pace. Building construction, along with transport and urbanization, were the segments that made up most of the production value in the industry.
Average annual change of construction costs in Mexico from 2005 to 2023, by type
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Statista. (March 11, 2024). Average annual change of construction costs in Mexico from 2005 to 2023, by type [Graph]. In Statista. Retrieved December 19, 2024, from https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/
Statista. "Average annual change of construction costs in Mexico from 2005 to 2023, by type." Chart. March 11, 2024. Statista. Accessed December 19, 2024. https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/
Statista. (2024). Average annual change of construction costs in Mexico from 2005 to 2023, by type. Statista. Statista Inc.. Accessed: December 19, 2024. https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/
Statista. "Average Annual Change of Construction Costs in Mexico from 2005 to 2023, by Type." Statista, Statista Inc., 11 Mar 2024, https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/
Statista, Average annual change of construction costs in Mexico from 2005 to 2023, by type Statista, https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/ (last visited December 19, 2024)
Average annual change of construction costs in Mexico from 2005 to 2023, by type [Graph], Statista, March 11, 2024. [Online]. Available: https://www.statista.com/statistics/1370493/annual-growth-of-construction-costs-in-mexico-by-type/
