Ukraine Witnesses a 22.6% Surge in Construction Volume in 2023

by Roman Cheplyk
Friday, April 5, 2024
Ukraine Witnesses a 22.6% Surge in Construction Volume in 2023

The State Statistics Service of Ukraine has reported a significant increase in the volume of construction work throughout the country in 2023, marking a 22.6% rise compared to the figures of 2022.

The data reveals that the construction industry's output index reached 122.6% over the previous year, showing sustained positive growth across several months. Notably, the most substantial expansion was observed in the engineering structures sector, which saw a 32.9% increase.

The non-residential real estate sector also experienced a noteworthy uplift, with its construction volume rising by 20%. However, the residential sector did not follow this upward trend, experiencing a decline of 4.6% in comparison to 2022.

The report further breaks down the composition of the construction activities, indicating that capital and current repairs of premises dominated the industry, accounting for 42.9% of the total construction volume. Meanwhile, the construction of new facilities represented 36.3% of the industry's focus.

This growth in the construction sector reflects a robust recovery and development trajectory for Ukraine, despite the challenges faced in recent years. The rise in engineering and non-residential construction, in particular, signals a strong push towards infrastructural development and commercial expansion.

You will be interested