Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "Tunisia Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Following annual growth of 7.4% in 2021, the Tunisian construction industry started its downward trend in 2022, contracting by 5.7%, and was expected to further contract by 3.9% in real terms in 2023, reflecting a gloomy outlook with the economy facing high unemployment, high inflation and high interest rates. According to the National Institute of Statistics (INS), the construction industry's value add declined by 5.1% YoY in Q3 2023, preceded by Y-o-Y decline of 5.4% in Q2 and 1.6% in Q1 2023.
Moreover, unemployment rose by 1.1% YoY in the first half of 2023, according to the INS. This high unemployment rate reflects the unavailability of skilled workers to work in the construction companies. In addition, the rising construction costs are further subduing the investors' confidence. The outlook is also clouded by political and financial instaibility. In April 2023, the International Monetary Fund (IMF) rejected the TND6.5 billion ($1.9 billion) bailout loan to Tunisia owing to rising concerns over the fate of Tunisia's fragile economy.
The Tunisian construction industry is forecast to record an annual average rate of 3.4% between 2024 and 2027, but output levels will remain below the 2019 level. The pick up in activity will be supported by investment in the renewable energy and housing sector. In March 2023, the International Islamic Trade Finance Corporation signed three trade agreements worth TND895.3 million ($280 million) with Tunisia to support the economy on gas, energy, and pharmaceuticals sectors. In addition, in July 2023, Saudi Arabia signed an agreement with Tunisia to grant a TND1.4 billion ($400 million) loan and a donation of TND342.7 million ($100 million) to the country to support its economy.
The report provides detailed market analysis, information and insights into the Tunisian construction industry, including -
- The Tunisian construction industry's growth prospects by market, project type and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Tunisian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
This report provides a comprehensive analysis of the construction industry in Tunisia. It provides -
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Tunisian, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Key Report Benefits
- Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the publisher's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
For more information about this report visit https://www.researchandmarkets.com/r/lo8jgf
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