DUBLIN–(BUSINESS WIRE)–The “Construction in Mongolia – Key Trends and Opportunities (H1 2021)” report has been added to ResearchAndMarkets.com’s offering.
The industry’s output value, measured at constant 2017 US dollar exchange rates, decreased from US$2 billion in 2019 to US$1.8 billion in 2020.
The Coronavirus (COVID-19) pandemic significantly disrupted Mongolia’s economy, with containment measures bringing many key sectors to a standstill and causing a decline in construction output last year. Mongolia’s construction industry thus contracted by 7.4% in real terms in 2020, following an annual growth of 8% in 2019.
The publisher expects the construction industry to recover in 2021, growing by 5.3% in real terms, and then expand at an annual average rate of 3.4% between 2022 and 2025. Over the forecast period, the industry’s output is expected to be supported by the government’s investment on the development of transport…