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

Boston, MA -- (SBWire) -- 05/21/2013 --The Portuguese construction industry valued EUR21.9 billion (US$28.2 billion) in 2012, recording a CAGR of -9.71% during the review period. All construction categories registered negative growth during this period. This is largely a result of economic deceleration following the financial crisis and austerity measures implemented by the government. Infrastructure construction was the largest construction category, with a share of 53.2% of the total construction industry value. While earlier governments made large investments in infrastructure, such investments had to be curbed as part of the terms of the nation's IMF and EU bailouts. Furthermore, budget cuts as part of the government's austerity measures for 2013 will affect the growth of the infrastructure construction market. The Portuguese government is trying to renegotiate PPP deals with private firms under a motorway concession contract, which could create savings for the government.

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Key Highlights

- The Portuguese construction industry valued EUR21.9 billion (US$28.2 billion) in 2012, recording a CAGR of -9.71% during the review period. All construction categories registered negative growth during this period. This is largely a result of economic deceleration following the financial crisis and austerity measures implemented by the government.
- Infrastructure construction was the largest construction category, with a share of 53.2% of the total construction industry value. While earlier governments made large investments in infrastructure, such investments had to be curbed as part of the terms of the nation's IMF and EU bailouts. Furthermore, budget cuts as part of the government's austerity measures for 2013 will affect the growth of the infrastructure construction market. The Portuguese government is trying to renegotiate PPP deals with private firms under a motorway concession contract, which could create savings for the government.
- Commercial construction recorded a CAGR of -11.69% during the review period, valuing EUR3.4 billion (US$4.4 billion) in 2012. Consumer spending is low owing to large debt, record unemployment rates and a depressed economic outlook. The IMF and the EU have urged the government to increase VAT for intermediate services to 23% and the minimum rate of tax to 13%. A further increase in tax could mean a sharp decline in the number of tourists, a further decline in the retail sector and a consequent decline in revenues.
- Portugal's economy declined by 3.0% in 2012 and is forecast to decline by 1.0% in 2013 - a third consecutive year of recession.
- Austerity measures ushered in a decline in GDP and a rapid increase in unemployment rates, which now stands at 16.0%. Around 130,000 people in the construction industry lost their jobs in 2012, a cut of 20% from the total construction workforce.

Scope

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

Companies Mentioned in this Report: Mota-Engil SGPS, SA, Beltico - Empreendimentos Turisticos SA, Ascendi Group, Somague SGPS, Grupo Soares Da Costa SGPS, SA

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