The analyst expects the Belarusian construction industry to grow by 5.5% in real terms in 2024, owing to improvement in construction activity, particular in industrial, infrastructure, and energy sectors. According to the National Statistical Committee of the Republic of Belarus (Belstat), domestic fixed capital investment grew by 23% year-on-year (YoY) in the first five months of 2024. Moreover, average construction contract activity - as a percentage of the corresponding period of the previous year - grew by 11.6% YoY in real terms in January-May, 2024. Growth in 2024 will also be supported by investment in the 2024 Budget, including expenditure of BYN44.7 billion ($13.4 billion) in social welfare ($837.5 million), healthcare ($747.8 million), education ($568.3 million) and the construction of subsidized housing ($508.5 million), among others. Additionally, growth will be supported by foreign direct investment (FDI) into the country: According to the estimates of Belstat, the country received BYN9.4 billion ($2.8 billion) foreign investment in Q1 2024, with the majority of it coming from Russian federation, Cyprus, and the United Arab Emirates. Of the total, FDI amounted to BYN7.7 billion ($2.3 billion) during the same period.
Over the remainder of the forecast period, the construction industry is expected to record annual average growth of 3.8% between 2025 and 2028, supported by public-private sector investments in transport network and housing construction, coupled with the government's commitment to invest in energy infrastructure. Investments of BYN37.4 billion ($11.2 billion) in housing and utilities infrastructure, BYN37.2 billion ($11.1 billion) in transport infrastructure, and BYN5.4 billion ($1.6 billion) in energy infrastructure, as part of the National Infrastructure Plan 2016-2030, will additionally support growth. Furthermore, In April of 2024, a series of memorandums of understanding (MoU) were signed between Egypt and Belarus to promote bilateral trade and investment. This involves an agreement signed between Egyptian Customs Authority and the Belarusian Ministry of Antimonopoly Regulation and Trade to enhance the mutual trade system; an agreement to nurture cooperation through the compatibility of laws, regulations, and policies.
Over the remainder of the forecast period, the construction industry is expected to record annual average growth of 3.8% between 2025 and 2028, supported by public-private sector investments in transport network and housing construction, coupled with the government's commitment to invest in energy infrastructure. Investments of BYN37.4 billion ($11.2 billion) in housing and utilities infrastructure, BYN37.2 billion ($11.1 billion) in transport infrastructure, and BYN5.4 billion ($1.6 billion) in energy infrastructure, as part of the National Infrastructure Plan 2016-2030, will additionally support growth. Furthermore, In April of 2024, a series of memorandums of understanding (MoU) were signed between Egypt and Belarus to promote bilateral trade and investment. This involves an agreement signed between Egyptian Customs Authority and the Belarusian Ministry of Antimonopoly Regulation and Trade to enhance the mutual trade system; an agreement to nurture cooperation through the compatibility of laws, regulations, and policies.
The Construction in Belarus - Country Briefing (H2 2024) report provides detailed market analysis, information, and insights into the Belarusian construction industry, including :
- The Belarusian construction industry's growth prospects by market, project type, and construction activity
- Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Belarusian construction industry
- Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope
This report provides a comprehensive analysis of the construction industry in Belarus. It provides :
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Belarus, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance3 Latest news and developments4 Project analytics5 Construction Market Data6 Risk Profile
7 Appendix
List of Tables
List of Figures
