Focus on the European construction sector!
Every year, FIEC publishes its statistical report, which gives an overview of the construction sector and demonstrates its importance to the European economy. The report analyzes 25 countries individually and the European Union as a whole. The texts and data are established based on information provided by the member Federations of the FIEC.
FIEC's 65th Annual Statistical Report provides an overview of the development of the construction industry in the EU in 2021 - a year in which the construction industry began to recover from the effects of the coronavirus pandemic. Covid-19, which had a devastating impact on the sector.
Let's discover what says about 2021 Rüdiger Otto, FIEC Vice-President Economic & Legal Affairs, in its foreword:
In 2021, EU GDP grew by 5.3% after a contraction of 5.9% the previous year. The construction sector, which had proved more resilient than other sectors, started to recover with solid growth in the first half of 2021. Overall, total construction investment increased by 5.2%.
In 2022, investment in construction is expected to resume growth at a rate of 2.4%. This growth should be observed in almost all EU Member States. Total construction employment increased by 2.8% compared to 2020. Growth is also expected for this year.
Rüdiger Otto warns, "Let us bear in mind that construction activities are already being impacted by the war in Ukraine. As such, projections for this year are likely to change while those for the medium term remain uncertain".
Nevertheless, the European environmental and climate agenda offers excellent opportunities for the construction sector. The industry must seize this potential. "It is vital that the sector grasps this potential", concludes the FIEC Vice-President Economic & Legal Affairs.
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