The data shows that wages and salaries in the oil and gas extraction sector in Brazil have experienced fluctuations over the past decade, standing at 15.33 billion Brazilian Reais in 2023. Notably, the period from 2013 to 2014 saw a significant rise, followed by a downward trend starting in 2015, with 2017 marking the largest year-on-year decrease of 19.34%. From 2020 to 2023, there has been a steady increase, with the value rising gradually each year. The Compound Annual Growth Rate (CAGR) over the last five years (2018 to 2023) stands at 4.41%.
Future trends to watch for include:
- The forecast suggests a continued gradual increase in wages and salaries, with a forecasted CAGR of 1.63% from 2024 to 2028.
- The sector may experience a total growth of 8.4% over this five-year forecast period.
- Key factors such as global oil prices, technological advancements, and regulatory changes could significantly impact these wage trends.
