The Ministry of Land, Infrastructure and Transport announced that last year’s overseas construction orders amounted to $47.27 billion. This is the highest annual performance in 11 years since 2014 and the first time since 2015 that the figure has exceeded $40 billion.
Overseas construction orders, which had decreased in 2021 compared to the previous year, have been on the rise for four consecutive years starting from 2022. The key drivers of this performance are analyzed to be the rapid growth in the European market, led by the Dukovany nuclear power plant order in the Czech Republic, and diversification into high-value-added sectors.
By region, Europe accounted for the largest share with $20.2 billion, a fourfold increase from the previous year, followed by the Middle East and North America-Pacific. By country, the Czech Republic, the United States, and Iraq had the highest order amounts.
Energy Storage Systems (ESS) secured $730 million last year after entering Australia and South Africa for the first time in 2022, making it a significant part of the electrical sector. The order amount for small and medium-sized enterprises decreased compared to the previous year, but the number of companies slightly increased.