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• Create Date October 2, 2023
• Last Updated October 2, 2023

Quarterly Financial Statistics Construction June 2023

While 2nd quarter information on construction has already been released with the GDP estimates, the quarterly financial statistics released in June 2023 includes more detailed financial information on various sectors in the economy, including construction, that are important indicators for the sector.  It also provides a breakdown between large, medium and smaller players in the sector. The dataset includes 13 years historical data (from March 2010 - June 2023).  Turnover in construction rose 2.3 percent y-y in the 2nd quarter, with a 5.9 percent in the first half of 2023, with stronger growth reported in the 1st quarter. Larger businesses recorded an increase of 7.6 percent (representing 46.2 percent of total turnover in the industry), smaller businesses increased by 21.6 percent, while medium size firms remain under pressure down 13.5 percent. Collectively smaller businesses in construction now represent 30 percent of total turnover generated in the industry, surpassing medium size firms at 23.5 percent. Average profit margins stabilised at 6.4 percent between January and June 2023, up from 2.4 percent in 2022.

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