Fast Market Research

Construction in Slovakia - Key Trends and Opportunities to 2017 - New Report Available

New Construction research report from Timetric is now available from Fast Market Research

Repost This

Boston, MA -- (SBWIRE) -- 12/09/2013 -- The Slovakian construction industry registered a compound annual growth rate (CAGR) of -6.92% during the review period (2008-2012). This decline was driven by a fall in residential construction and skepticism among investors following the financial crises in Europe. The industry is anticipated to recover and record 2.68% growth over the forecast period, supported by regional infrastructure projects, growth in exports (a key source of demand for domestic products), positive investor sentiment and an expected economic recovery.

Key Highlights

- Slovakia's real GDP growth moderated from 3.2% in 2011 to 2.0% in 2012, due to weak investment and private consumption. Export growth fell from 12.7% in 2011 to 8.6% in 2012 as a result of weak external demand in the euro zone. Net exports contributed positively as import growth declined from 10.1% in 2011 to 2.8% in 2012. Private consumption, which accounts for 56% of GDP, declined by 0.6% in 2012 following a 0.5% fall in 2011, mainly due to subdued consumer confidence.
- In 2012, employment in the construction industry totaled 165,300 people, a decrease of -4.5% compared with figures in 2011, while labor productivity (output per employed person) in the industry declined by -8.4% compared with 2011. Average nominal monthly wages in the construction industry increased by 0.7% to EUR607 during the same period.
- In its 2013 budget, the government of Slovakia announced a number of austerity measures affecting companies and individuals. It raised tax for individuals with a monthly income of more than EUR3,300 (U$4,300) from 19% to 25%, and increased tax on corporate earnings to 23%. These measures weaken investor confidence and hinder prospects for growth in the country's commercial and residential construction markets.
- Slovakia's strategic location in central Europe facilitates the flow of goods between the north-south and east-west corridors, meaning there is a need to develop transport infrastructure in the country. As a member of the EU, Slovakia has received significant funding from the regional body for the upgrade and modernization of its infrastructure. The European Commission allocated EUR3.8 billion for the development of transport infrastructure for the period 2007-2013.
- Prospects for Slovakia's residential construction market are bleak. Buyers are constrained by government measures to increase income tax, while the rising unemployment rate, which was close to 15% in the first quarter of 2013, has further dampened buyer sentiment. Developers have subsequently reduced their activities.

View Full Report Details and Table of Contents


This report provides a comprehensive analysis of the construction industry in Slovakia:

- Historical (2008-2012) and forecast (2013-2017) valuations of the construction market in Slovakia using the construction output and value-add methods

Companies Mentioned in this Report: DOPRASTAV, A.S., Cesty Nitra, a.s., Inzinierske Stavby, a. s., VAHOSTAV - SK, A.S., STRABAG s.r.o.

About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

Browse all Construction research reports at Fast Market Research

You may also be interested in these related reports:

- Construction in Colombia - Key Trends and Opportunities to 2017
- Construction in Germany - Key Trends and Opportunities to 2017
- Construction in Austria - Key Trends and Opportunities to 2017: The Austrian construction industry's output is expected to record a CAGR of 3.48% between now and 2017
- Construction in South Korea - Key Trends and Opportunities to 2017
- Construction in Argentina - Key Trends and Opportunities to 2017
- Construction in Mexico - Key Trends and Opportunities to 2017
- Construction in Western Europe - Key Trends and Opportunities to 2017
- Construction in the Czech Republic - Key Trends and Opportunities to 2017
- Global Construction Aggregates Market - Key Trends and Opportunities to 2017
- Construction in Hong Kong - Key Trends and Opportunities to 2017