The Gross Value Added (GVA) for Specialized Construction Activities in Mexico has shown notable growth from 2013 to 2023, with the value standing at 264.58 Billion Mexican Pesos in 2023. This period was characterized by fluctuations, including notable declines in 2019 and 2020, followed by significant recoveries, particularly in 2021 and 2022. Over the last two years, there was a year-on-year increase of 6.61% in 2023. Furthermore, the five-year Compound Annual Growth Rate (CAGR) up to 2023 was 7.64%.
• From 2013 to 2018, the sector experienced steady growth, with occasional dips countered by robust rebounds.
• The period of 2019-2020 saw declines likely due to economic slowdowns.
• Noteworthy recovery began in 2021, with growth continuing strongly into 2022 and 2023.
Looking ahead, forecasted data suggests a continued upward trend with an expected CAGR of 4.19% for the next five years, resulting in a total growth of 22.78% by 2028. Trends to monitor include advancements in construction technology, infrastructure projects driven by government initiatives, and potential economic fluctuations that could impact growth rates.
