According to the latest Euroconstruct forecast, the construction volume in Europe is estimated to have slumped by 7.8% in 2020, but should grow by 4.1% this year, as well as by 3.4% and 2.4% in 2022 and 2023.
According to an ITA (Italian Trade Agency) report published in November, the Moroccan construction industry has generated a turnover of more than 500 million euros and an added value of 3.2 billion euros over the last five years, corresponding to average annual growth of 5%. Following a small contraction in 2013, the industry closed 2014 with positive figures.
In 2014 the country saw a recovery in private consumption (+4.9% in the third quarter of 2014) and in public spending (+8.8%), as well as fresh growth in exports (+15%), while GDP marked up 6.8% growth in the third quarter compared to the 2.1% average for 2013.
In spite of a relatively peaceful period of transition following the Arab Spring, Tunisia's economic growth has slowed considerably. Compared to an average annual GDP growth of 5% in the pre-revolution period, 2014 closed with a (nonetheless quite respectable) +2.7%.
Algeria is enjoying a period of relative stability. According to World Bank estimates, real GDP grew by 3% in 2014 compared to 2.8% in 2013, while further 3.3% growth is expected this year followed by 3.5% per year in 2016-2017.
The grave security situation in Libya is hindering the launch of projects and investment strategies, which are essential in a country that needs to build or rebuild much of its building stock and infrastructure in virtually every sector.