Pakistan Construction Industry Report 2023: Market Contracted by 5.2% in Real Terms in 2023 Fueled by Weak Economic, Political and Financial Conditions - Forecast to 2027 - ResearchAndMarkets.com
Retrieved on:
Tuesday, January 16, 2024
Pakistan's construction industry contracted by 5.2% in real terms in 2023, owing to headwinds caused by the weak economic, political and financial conditions in the country.
Key Points:
- Pakistan's construction industry contracted by 5.2% in real terms in 2023, owing to headwinds caused by the weak economic, political and financial conditions in the country.
- Pakistan's high inflation rate and surging energy and construction material prices are all expected to have weighed on construction activity this year.
- In July 2023, the IMF approved a PKR651.4 billion ($3 billion) bailout, after keeping it on hold since December 2022.
- Historical (2018-2022) and forecast (2023-2027) valuations of the construction industry in Pakistan, featuring details of key growth drivers.