South Korea reports strong construction growth
Construction output in South Korea grew by 10.5% last year.
Expansion in construction investment helped bring about a 2.8% rise in GDP, with gross national income up 4%. Construction investment increased by 10.7%, mainly owing to growth in residential building construction.
The latest figures from the Bank of Korea show that, while construction rose by 10.5% overall, civil engineering decreased by 1.9%. The growth came from increases in both residential and non-residential building construction.
Services showed a slower expansion of 2.3%. Transportation was among areas of growth.
Manufacturing increased by 2.3%. Transportation equipment shrank but was offset by growth in petroleum and chemical products as well as electrical and electronic equipment.
- Click here to return to the previous page
- Subscribe to our free construction newsletters
- Buy & Sell Construction Plant Machinery online with TCiTrader.co.uk. Find new, used & reconditioned Construction Equipment. Click here to view Construction Equipment Classifieds.
Download our free construction news iPhone / iPad app. Sign up to our FREE email newsletters or subscribe to our RSS feed for regular updates on the latest Construction News, Plant News, Contract News & Supplier News. The Construction Index also provides the latest Construction Tenders, Construction Market Data & Construction Law Commentary all FREE.
This article was published on 28 Mar 2017 (last updated on 28 Mar 2017).