Statistics Finland has reported that the costs of civil engineering projects in Finland experienced a notable increase of 3.2 percent from May 2022 to May 2023. The annual change in costs varied across different sub-indices, ranging from a significant increase of 9.7 percent for rock structures to a decrease of 4.5 percent for surfacing.
The accompanying line chart illustrates the development of the cost index since 2015, with the starting point set at 100. The total index has shown a relatively steady upward trend over time. However, the sub-index for surfacing has experienced more fluctuations, with sharp rises and falls, particularly noting a stronger increase in 2021. On the other hand, the index for earth structures has shown a more consistent development.
Key Points:
- Cost Factors: Analyzing the cost factors, the most significant cost increases were observed in the expenses related to own machinery, which rose by 11.0 percent compared to the previous year. Additionally, the costs of purchased transport services increased by 6.1 percent.
- Monthly Changes: When examining the monthly changes in costs, it was observed that the expenses related to own machinery experienced the most significant decrease, with a decline of 2.0 percent.
- Overall Index: The total cost index exhibited a 0.8 percent increase compared to the previous month, indicating a slight upward trend in costs for civil engineering projects.
The rise in the costs of civil engineering works raises important considerations for construction and infrastructure projects in Finland. These cost increases can impact project budgets, planning, and overall economic stability. Further analysis and monitoring of cost trends will be crucial to ensure effective cost management and sustainable development in the civil engineering sector.
https://www.stat.fi/en/publication/cl8lfnq5unmlh0dukpg62bt00