Construction Sector in Bulgaria

Countries covered: Bulgaria In 2010 the Bulgarian construction sector continued to shrink due to the consequences of the global economic crisis. The major problem for the construction industry was the lack of private and public investments, according to market experts. The country’s construction sector registered an average annual drop of 16.9% on the year in 2010, while the average decrease of the construction output in the EU-27 countries was 4.3%, Eurostat data showed. Bulgaria was among the EU’s five worst performers almost every month since September 2009 to December 2010.

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Construction Sector in Bulgaria 2010 SeeNews releases a new report entitled ‘Construction Sector in Bulgaria’ SeeNews, a business information provider for Southeast Europe, has published the report ‘Construction sector in Bulgaria’. In 2010 the Bulgarian construction sector continued to shrink due to the consequences of the global economic crisis. The major problem for the construction industry was the lack of private and public investments, according to market experts.

The country’s construction sector registered an average annual drop of 16.9% on the year in 2010, while the average decrease of the construction output in the EU-27 countries was 4.3%, Eurostat data showed. Bulgaria was among the EU’s five worst performers almost every month since September 2009 to December 2010.

In 2010 the number of construction companies slumped to 4,200 from 5,400 in the previous year, data of the Bulgarian Construction Chamber (BCC) showed. The number of employed persons in the sector went down by 21.3% on the year in 2010 thus further boosting the country’s unemployment rate.

The number of building permits for the construction of buildings went down by 16% year-on-year in 2010 and the highest annual drop of 29.5% was registered in the residential segment.

In 2009 the total revenue of the construction companies in Bulgaria declined by 3.7% in comparison to 2008 with the net sales revenue of the leading companies inching down by 1.2%.

BCC had 1,883 members, including 431 companies based in Sofia region as of February 2011. As for comparison, in June 2009, BCC’s members were 2,274, of which 491 - Sofia-based.

The expected economic growth in 2011, the improving EU funds absorption and government investments in infrastructure projects should help the construction sector to start its recovery.

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