Belarus Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)
Summary
GlobalData 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.
GlobalData’s 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.
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
- 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.
- 1 Executive Summary
- 2 Construction Industry: At-a-Glance
- 3 Latest news and developments
- 4 Project analytics
- 5 Construction Market Data
- 6 Risk Profile
- 7 Appendix
- 7.1 Definitions
- 7.2 CRI Methodology
- 7.3 About GlobalData
- Contact Us
- List of Tables
- Table 1: Construction Industry Key Data
- Table 2: Belarus, Top Construction Projects by Value
- Table 3: Belarus, Construction Output Value (Real, $ Million)
- Table 4: Belarus, Construction Output Value (Nominal, BYN Million)
- Table 5: GlobalData Construction Market Definitions
- Table 6: Risk Dimensions
- Table 7: Ratings, Scores and Definitions
- List of Figures
- Figure 1: Belarus, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019-28
- Figure 2: Belarus, Construction Output Value, by Sector (Real, $ Million), 2019-28
- Figure 3: Eastern Europe, Construction Output (Real % Change), 2022-28
- Figure 4: Belarus, Construction Output by Sector (Real % Change), 2022-24 and 2025-28
- Figure 5: Belarus, Construction Value Add Index (At Constant Prices; As % of Corresponding Period of Previous Year)
- Figure 6: Belarus, Fixed Capital Investment (Accumulated % Change, Y-o-Y)
- Figure 7: Belarus, Total Floor Space of Housing Commissioning (Thousand m2)
- Figure 8: Belarus, Construction Contract Activity (As % of Corresponding Period of Previous Year, at Constant Prices)
- Figure 9: Belarus, Total Commodities Exports ($ Million)
- Figure 10: Belarus, Construction Projects Pipeline, Value by Stage ($ Million)
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