The Tunisian economy is expected to grow by 2.4% in 2017 (+1.6% in 2016) and to see steady improvement over following years to reach an annual growth rate of 4.5% by 2020. In particular, a number of large projects are under way in the construction sector, most notably the Tunis Financial Harbour, on which work began in late November 2016.
A number of new projects to be carried out in Tobruk, Tripoli, Benghazi, Sirte and Sebha, has been approved to start the reconstruction of the Country.
Egypt closed fiscal 2015/2016 with GDP growth of between 3.6% and 4.0% in real terms. In the 30 months between April 2014 and October 2016, the Egyptian government made real estate investments valued at 43 billion Egyptian pounds (2.5 billion euros), compared to the 30 billion pounds invested in the last 20 years.
The Moroccan construction industry is expected to grow between 2016 and 2020, driven mainly by investments in infrastructure, energy and new residential housing projects.
The North African construction sector has seen significant growth over the last 5 years and offers interesting opportunities for all players in the industry.
In January the International Monetary Fund (IMF) confirmed its growth forecasts for Algeria for the two-year period 2016- 2017 and predicted a fresh acceleration in 2021. The country’s GDP grew by 3.6% in 2016 and further 2.9% growth is forecast in 2017 (+3.4% in 2021).
Strengthened by steady growth in the housing and construction markets, the U.S. economy continued to expand in 2016, helping lift the U.S. ceramic tile market to a seventh straight year of growth.
Production and total sales grew in 2016 to 415 million sq.m, thanks to an increase of exports and sales on the domestic market. 2017-2018 forecasts are also positive.
A report produced by BNC on behalf of the event The Big 5 reveals that investments of US $178.8 billion are in progress in 1,692 projects in this segment in the Gulf Cooperation Council (GCC) countries.
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.
Based on preliminary figures published by the Acimac Research Department, the sector’s turnover has risen by 3.9% to a record high of 2.06 billion euros.
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.
Be the first to know!
Get the most useful and interesting news from the global ceramic industry in your inbox every two weeks
