Wages and salaries in the non-metallic mineral products sector in Brazil stood at 17.83 billion Brazilian Reals in 2023. Over the past two years, the sector saw year-on-year variations of 2.32% in 2022 and 2.15% in 2023, indicating a modest upward trend. Evaluating over a longer period, the last five years show a Compound Annual Growth Rate (CAGR) of 2.81%, reflecting moderate growth. Forecasted data from 2024 to 2028 suggest a continued upward trajectory, with an estimated 5-year CAGR of 1.34%, leading to a forecasted value of 19.44 billion Brazilian Reals in 2028, reflecting a total growth rate of 6.88%.
Future trends to watch for:
- Impact of economic policies on wage growth
- Sector-specific technological advancements
- Global economic conditions influencing local markets