One of the sectors that is set to drive Iran's economy is construction, which closed at $154 billion at the end of 2016 and is expected to grow at an annual compound growth rate of 6.1% over the next four years to reach $196 billion in 2020.
The recovery in the Italian construction industry that began to emerge at the end of 2015 failed to live up to expectations in the first half of the current year.
According to the report published at the end of the 81st Euroconstruct Conference held in Dublin on June this year, construction output in 2016 is expected to improve by 2.6% and will continue to grow with the same pace in the period 2016-2018.
According to the report of the 80th Euroconstruct conference, total construction output in 19 member states set a positive trend, with growth of 1.6% compared with the previous year.
In 2015 U.S. ceramic tile consumption grew by 10% on 2014 to reach 2.74 billion sq.ft. (254.6 million sq.m), bringing consumption back to its highest level since 2006. Imports growth was +9,8%.
According to an ITA (Italian Trade Agency) report published in November, the Moroccan construction industry has generated a turnover of more than 500 million euros and an added value of 3.2 billion euros over the last five years, corresponding to average annual growth of 5%. Following a small contraction in 2013, the industry closed 2014 with positive figures.
In 2014 the country saw a recovery in private consumption (+4.9% in the third quarter of 2014) and in public spending (+8.8%), as well as fresh growth in exports (+15%), while GDP marked up 6.8% growth in the third quarter compared to the 2.1% average for 2013.
In spite of a relatively peaceful period of transition following the Arab Spring, Tunisia's economic growth has slowed considerably. Compared to an average annual GDP growth of 5% in the pre-revolution period, 2014 closed with a (nonetheless quite respectable) +2.7%.
Algeria is enjoying a period of relative stability. According to World Bank estimates, real GDP grew by 3% in 2014 compared to 2.8% in 2013, while further 3.3% growth is expected this year followed by 3.5% per year in 2016-2017.
The grave security situation in Libya is hindering the launch of projects and investment strategies, which are essential in a country that needs to build or rebuild much of its building stock and infrastructure in virtually every sector.
While 2015 is expected to remain in negative territory (-0.8%), due to the continued effects of political uncertainty and lack of investment, 2016 should mark a return to positive growth (+2.4).
