In 2023, Texas had the highest construction spending by the state and local governments in the United States. Meanwhile, those government levels spent ** billion U.S. dollars in California, which was a much higher amount than in New York, Florida, or any other state. It is important to consider, nevertheless, that these figures do not show the total construction output of the territory, but only public spending by those government levels.What elements determine construction value?Several factors play into the value of the construction put in place such as the costs in which each project incurs. Contractors facing shortages in construction materials or a rise in their cost are some of the situations that can cause an increase in the construction value. It is also necessary to factor in the cost of labor of construction workers in non-supervisory and in managerial positions, as well as that of specialized workers such as engineers and architects. Finally, taxes and fees, the contractor’s profit, and other costs are also considered.Which states have the highest construction costs?Some of the U.S. cities with the highest costs for construction materials, installation, and composite correspond to the states with more value of construction put in place. Similarly, the wages in the private construction sector of those U.S. states, such as New York, California, and Texas, were also above the national average. Although Florida ranks low in the aforementioned aspects, it has been one of the states with the most residential building permits issued during the last couple of years.

The value of construction provides estimates of the total dollar value of private construction work done in the United States. The data includes construction work done on building and nonbuilding (e.g. roads, bridges, etc.) new structures or improvements to existing structures. Data estimates include the cost of labor and materials, cost of architectural and engineering work, overhead costs, interest and taxes paid during construction and contractors' profit. Maintenance and repairs to existing structures, land acquisition and the cost and installation of machinery are not included. Data is sourced from the US Census Bureau and presented in chained 2017 dollars.

The value of overall construction output in the United States grew by over *** trillion U.S. dollars in 2024. That refers to all construction activities, including the construction of buildings and infrastructure, as well as other specialized activities, such as roofing, HVAC, and plumbing installation, among others. The construction sector during recessions The strength of the construction industry generally tends to parallel that of the nation’s economy. After the Great Recession in 2008, there was a noticeable decrease in the value of new construction put in place in the United States, as it can be observed in this statistic. Nevertheless, both public and private construction spending in the U.S. kept increasing in 2020 despite the effects of the start of the COVID-19 pandemic in the economy. Construction worker shortage To sustain growth, there are several challenges that the construction industry in the U.S. has faced in the past years. The shortage if skilled labor in the construction industry has been one of the most notable barriers to growth in the industry in the past couple of years. The industry is facing that challenge at a time in which there is also a high demand for new buildings, as there was a significant housing shortage in metropolitan areas all throughout the United States.

United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data was reported at 4.791 USD bn in May 2018. This records an increase from the previous number of 4.134 USD bn for Apr 2018. United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data is updated monthly, averaging 4.108 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 13.027 USD bn in Oct 1996 and a record low of 1.195 USD bn in Aug 2003. United States Construction VIP: saar: Private: Mfg: Computer,Electronic,Electrical data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

Graph and download economic data for Value Added by Industry: Construction (VAC) from Q1 2005 to Q1 2025 about value added, private industries, construction, private, industry, and USA.

The new construction put in place in the United States in 2024 was valued at **** trillion U.S. dollars. In the coming years, the value of construction is expected to keep growing, reaching roughly **** trillion U.S. dollars in 2029. Construction spending has been growing steadily over the last couple of years. Up to 2022, residential building construction spending also increased.

China Building Construction: Value Completed: Total data was reported at 7,863,563.000 RMB mn in 2024. This records a decrease from the previous number of 8,182,805.000 RMB mn for 2023. China Building Construction: Value Completed: Total data is updated yearly, averaging 6,104,224.970 RMB mn from Dec 2003 (Median) to 2024, with 22 observations. The data reached an all-time high of 8,182,805.000 RMB mn in 2023 and a record low of 901,173.500 RMB mn in 2003. China Building Construction: Value Completed: Total data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Construction Sector – Table CN.ED: Construction: Building Construction: Value Completed.

China Construction: Value Added data was reported at 8,994,900.000 RMB mn in 2024. This records an increase from the previous number of 8,569,100.000 RMB mn for 2023. China Construction: Value Added data is updated yearly, averaging 2,074,451.616 RMB mn from Dec 1993 (Median) to 2024, with 32 observations. The data reached an all-time high of 8,994,900.000 RMB mn in 2024 and a record low of 84,073.260 RMB mn in 1993. China Construction: Value Added data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Construction Sector – Table CN.EC: Construction: Value Added.

Construction VIP: Public data was reported at 26.082 USD bn in May 2018. This records an increase from the previous number of 23.011 USD bn for Apr 2018. Construction VIP: Public data is updated monthly, averaging 9.134 USD bn from Jan 1964 (Median) to May 2018, with 653 observations. The data reached an all-time high of 31.786 USD bn in Sep 2010 and a record low of 1.094 USD bn in Feb 1964. Construction VIP: Public data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA001: Value of Construction Put in Place (VIP): Current Price.

In 2024, the U.S. Construction Market reached $1.77 trillion, and is projected to surge to $2.52 trillion by 2030 due to surge in government investment

Construction VIP: Private: AR: Sport data was reported at 0.433 USD bn in May 2018. This records a decrease from the previous number of 0.472 USD bn for Apr 2018. Construction VIP: Private: AR: Sport data is updated monthly, averaging 0.106 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 0.558 USD bn in May 2017 and a record low of 0.027 USD bn in Feb 1993. Construction VIP: Private: AR: Sport data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA001: Value of Construction Put in Place (VIP): Current Price.

The value of nonresidential construction includes expenditure on office buildings, hospitals, factories, power plants, mining shafts, communication lines, farms, railroads, schools, brokers' commissions and net purchases of used structures. Historical data for this report is sourced from Statistics Canada and is presented in chained 2017 dollars.

China Construction Value Added increased 4.3% in 2019, from a year earlier.

United States Construction VIP: saar: Private: Warehouse: Mini Storage data was reported at 5.593 USD bn in May 2018. This records a decrease from the previous number of 5.761 USD bn for Apr 2018. United States Construction VIP: saar: Private: Warehouse: Mini Storage data is updated monthly, averaging 0.903 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 5.761 USD bn in Apr 2018 and a record low of 0.000 USD bn in Apr 1993. United States Construction VIP: saar: Private: Warehouse: Mini Storage data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA002: Value of Construction Put in Place (VIP): Current Price: Seasonally Adjusted Annual Rate.

In 2024, the value of construction of commercial buildings in the United States decreased noticeably, falling to lower levels than in 2022. After a noticeable drop in the U.S. commercial construction market during the 2008 recession, the value of commercial construction that has been put in place has recovered to pre-recession figures, reaching *** billion U.S. dollars in 2022. Warehouses and private offices were the most common type of commercial construction starts in the United States. How does commercial construction differ? Commercial construction is for the purpose of business through new buildings like offices or a new industrial facility. In the commercial market, contractors must also take into account the needs of other businesses that may also be established within the building. The larger size in commercial construction tends to lead to the utilization of steel as well as other equipment such as cranes. Such equipment also requires skilled personnel for safe and efficient operations.

Graph and download economic data for Real Value Added by Industry: Construction (RVAC) from Q1 2005 to Q4 2024 about value added, private industries, construction, private, real, industry, and USA.

In 2024, the value of construction work in Malaysia was valued at approximately ***** billion Malaysian ringgit, indicating an increase by more than ** billion Malaysian ringgit compared to the previous year. The construction sector in Malaysia has begun to recover after being negatively impacted by the COVID-19 pandemic.

Economic concepts related to highway transportation cost index.

Construction VIP: Private: Educational: Primary/Secondary data was reported at 0.402 USD bn in May 2018. This records an increase from the previous number of 0.359 USD bn for Apr 2018. Construction VIP: Private: Educational: Primary/Secondary data is updated monthly, averaging 0.250 USD bn from Jan 1993 (Median) to May 2018, with 305 observations. The data reached an all-time high of 0.431 USD bn in Jun 2017 and a record low of 0.026 USD bn in Feb 1993. Construction VIP: Private: Educational: Primary/Secondary data remains active status in CEIC and is reported by US Census Bureau. The data is categorized under Global Database’s USA – Table US.EA001: Value of Construction Put in Place (VIP): Current Price.

Armenia Construction Value: Annual data was reported at 709,465.300 AMD mn in 2024. This records an increase from the previous number of 619,686.000 AMD mn for 2023. Armenia Construction Value: Annual data is updated yearly, averaging 450,806.700 AMD mn from Dec 2000 (Median) to 2024, with 25 observations. The data reached an all-time high of 842,351.000 AMD mn in 2008 and a record low of 90,997.500 AMD mn in 2000. Armenia Construction Value: Annual data remains active status in CEIC and is reported by Statistical Committee of the Republic of Armenia. The data is categorized under Global Database’s Armenia – Table AM.EA002: Construction Value.