Dublin, April 05, 2022 (GLOBE NEWSWIRE) -- The "Colombia Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
GlobalData expects Colombia's construction industry to grow by 14% in 2022, after growing by an estimated 5.5% in 2021.
Over the remainder of the forecast period, the industry is expected to expand at an annual average of 4.3% between 2023 and 2026, partly owing to a low base effect, in addition to being the government's focus on infrastructure and the continuity of programs that promote the development and financing of housing such as VIS and non-VIS.
Moreover, ongoing efforts to accelerate the completion of Colombia's fourth generation (4G) road infrastructure program and push forward with plans of its fifth generation (5G) concessions program should continue to drive the industry's growth in the quarters ahead.
The forecast also assumes additional progress in vaccine rollouts, which will allow hard-hit sectors such as retail, office and leisure, and hospitality to recover faster. Improving external conditions, amid higher oil prices and strong US growth, is also expected to bode well for business investment and growth, while a looser fiscal position ahead of the presidential election in 2022 will further help drive domestic demand.
Figures from the National Administrative Department of Statistics (DANE), showed that construction output in Colombia rose marginally during Q3 2021, rising by 1.7% quarter -on quarter (QoQ) in Q3 2021, in a large improvement from the contraction of 5.4% in the previous quarter, during the protests. The infrastructure segment posted the biggest increase of 5.9%, which is a remarkable increase from a contraction of 7.7% in Q2 2021.
Residential and non-residential buildings registered sluggish growth in Q3 2021 (1.6%), after posting a comparatively moderate drop (0.2%) in the previous quarter. Specialized works have struggled most, after having two consecutive quarters of negative growth (2.4% and 12.5%, respectively).
In October 2021, Colombia's Congress approved a COP350.4 trillion ($93 billion) budget for 2022, an increase of 5.3% compared with the previous budget of COP332 trillion ($88 billion) approved for 2021. According to the budget, the country's economy is expected to register to grow 4.3% in 2022, and a fiscal deficit of 7% of GDP in 2022.
In the budget, the government allocated COP69.6 trillion ($18.9 billion) towards social spending, an increase of 18.8% compared to the previous budget. As part of the 2022 Budget, the government plans to allocate COP49.4 trillion ($13.4 billion) towards education, COP42.6 trillion ($11.6 billion) for defense, and COP41.8 trillion ($11.4 billion) on healthcare.
Scope
- Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Colombia, 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 Topics Covered:
1 Executive Summary
2 Construction Industry: At-A-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Covid-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest News and Developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project Analytics
- Latest News and Developments
4.3 Industrial Construction
- Outlook
- Project Analytics
- Latest News and Developments
4.4 Infrastructure Construction
- Outlook
- Project Analytics
- Latest News and Developments
4.5 Energy and Utilities Construction
- Outlook
- Project Analytics
- Latest News and Developments
4.6 Institutional Construction
- Outlook
- Project Analytics
- Latest News and Developments
4.7 Residential Construction
- Outlook
- Project Analytics
- Latest News and Developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/44u2qb
