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 to surpass $40 billion since 2015.
Overseas construction orders, which had decreased in 2021, recorded four consecutive years of growth from 2022. The key drivers of this performance are the rapid growth in the European market, led by the Dukovany nuclear power plant order in the Czech Republic, and diversification into high-value sectors.
By region, Europe recorded the highest amount 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 recorded the highest order amounts.
The overseas construction orders of small and medium-sized enterprises decreased compared to the previous year, but the number of companies slightly increased. Despite the decrease in orders from the Middle East, it remains an important market, and efforts are being made to diversify portfolios by entering promising future industries.