As Entegre Project Management, we have published the 2024 Q3 Turkey Construction Sector Report, which we prepared by compiling sector-specific insights.
The year 2024 continues to witness significant transformations in the construction sector, influenced by global economic uncertainties and fluctuations in energy prices. While a decline in housing expenditures is notable in Europe, infrastructure projects in the Asia-Pacific region are driving sectoral growth. On a global scale, supply chain issues and rising costs are putting pressure on the growth rate of the sector. In the third quarter of 2024, the construction sector grew by 9.2% compared to the same period of the previous year. In Turkey, the sector’s future maintains its growth potential thanks to urban transformation projects and infrastructure investments. However, high interest rates and challenges in accessing financing remain key factors that could limit this growth.
When activities contributing to GDP are examined, the third quarter of 2024 shows the following year-on-year growth rates based on the chain volume index:
- Service sector: 1.40%
- Financial and insurance activities: 6.20%
- Real estate activities: 2.50%
- Agricultural activities: 4.60%
- Construction activities: 9.20%
- Industrial activities decreased by 2.20%.
You can access the full report via the provided link. We welcome your valuable contributions and feedback for the report's improvement.
Best regards,
Entegre Project Management