Market Research Report
Construction in Myanmar - Key Trends and Opportunities to 2024
|Published by||GlobalData||Product code||661502|
|Published||Content info||48 Pages
Delivery time: 1-2 business days
|Construction in Myanmar - Key Trends and Opportunities to 2024|
|Published: March 6, 2020||Content info: 48 Pages||
Myanmar's construction industry expanded by 8.1% in real terms in 2019; this was preceded by an annual average growth of 7.1% during the preceding four years. Growth during the review period (2015-2019) was driven by positive developments in regional economic conditions, as well as public and private sector investments in transport infrastructure, energy and housing construction projects.
The government's focus on the development of the country's infrastructure under the Myanmar Sustainable Development Plan (MSDP) 2018-2030, in order to support economic growth and create jobs, is expected to support growth in the industry over the forecast period (2020-2024). The plan is to identify priority infrastructure projects and encourage the public-private partnership (PPP) mechanism to finance the project. In addition, public and private sector investments in energy, residential, commercial, healthcare and educational infrastructure construction projects are expected to support growth in the industry over the forecast period.
According to the Ministry of Planning and Finance (MOPF), the government approved the 2019-2020 union budget of MMK35.2 trillion (US$23.1 billion) for FY2019-2020 (October to September). Of the total budget, the government allocated MMK8 trillion (US$5.2 billion) to the Ministry of Electricity and Energy (MOEE), MMK2.7 trillion (US$1.8 billion) towards the education sector, MMK1.7 trillion (US$1.1 billion) towards the transport and communications sector, MMK1.1 trillion (US$703.3 million) to the Ministry of Health and Sports and MMK1.1 trillion (US$698.7 million) towards construction.
The industry's output value in real terms is expected to rise at a compound annual growth rate (CAGR) of 8.67% over the forecast period. The industry is consequently expected to rise from a value of US$12.2 billion in 2019 to US$18.5 billion in 2024, measured at constant 2017 US dollar exchange rates. However, there are potential risks in the early part of the forecast period, reflecting an uncertain outlook for the economy and investor confidence owing to the Coronavirus outbreak, which could have an adverse impact on construction spending, particularly in the commercial sector.
GlobalData's Construction in Myanmar - Key Trends and Opportunities to 2024 report provides detailed market analysis, information and insights into Myanmar's construction industry, including -
This report provides a comprehensive analysis of the construction industry in Myanmar. It provides -