Construction value added up 8.9% in 2022

15:03 - 12 July 2024

Real Estate

The construction sector recorded significant growth in 2022, with an 8.9% increase in value added at current prices, reaching €1,442.4 million, up from €1,325.0 million in 2021, according to the latest Construction and Land Development Survey.

The survey revealed that the overall production value in the construction sector rose by 10.3%, totalling €5,564.7 million in 2022, compared to €5,044.9 million in the previous year.

The value of new construction hit €3,392.8 million in 2022. This marks a 15.6% increase from 2021. Residential buildings saw a remarkable 21.3% rise. In contrast, non-residential buildings recorded a slight decline of 1.8%, while civil engineering projects surged by 18.4%.

Employment within the construction increased by 3.0% in 2022. The sector employed 37,500 people, up from 36,400 in 2021.

(Source: CNA)

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