Belarus Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Belarus Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast, 2023-2027

Summary

The construction industry in Belarus is expected to contract by 1.3% in real terms in 2023, following an annual decline of 11.2% in 2022, owing to protracted sanctions imposed by the European Union (EU) and Western nations in response to Russia's invasion of Ukraine. The United Nations Department of Commerce is stepping up its current sanctions against Belarus under the Export Administration Regulations (EAR) in response to the ongoing Russian aggression against Ukraine. These sanctions include broadening the scope of the Belarusian Industry Sector Sanctions and the foreign direct product rule that currently applies to Belarus. Other factors affecting the construction industry’s output include high inflation and construction materials costs, coupled with supply chain disruption and weak investor confidence. According to the International Monetary Fund, annual inflation hit 7.5% in 2023. Additionally, this legislation expands Belarus's current export restrictions. The Bureau of Industry and Security published a final rule in February 2023 that strengthened and enhanced the EAR’s existing sanctions, among other things by making more items subject to licensing requirements under the sanctions against luxury goods. The Belarusian Railway announced in May 2023 that the amount of freight carried decreased by 82% in the Q1 2023. It highlighted the decline in the transportation of coal, lumber, oil and petroleum products, chemicals and soda, ferrous metals, iron and manganese ores, and industrial raw materials.

The construction industry is expected to pick up next year, but despite growing at an average rate of 4.8% during 2024-27, output in 2027 will still be below the 2020 level in real terms. The expected improvement from 2024 reflects public and private investments in road networks, housing, and renewable energy projects, coupled with the development of regional infrastructure projects. The industry's output is also expected to be supported by investments as part of the National Infrastructure Plan for 2016-30. The plan entails an investment of BYR37.4 billion ($14.5 billion) in housing and utilities infrastructure, BYR37.2 billion ($14.4 billion) in transport infrastructure and BYR5.4 billion ($2.1 billion) in energy infrastructure by 2030.

This report provides detailed market analysis, information and insights into Belarus’ construction industry, including -

• Belarus’ 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 Belarus’ 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 (2018-2022) and forecast (2023-2027) 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 GlobalData'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 GlobalData's critical and actionable insight.
• Assess business risks, including cost, regulatory and competitive pressures.
• Evaluate competitive risk and success factors.