Construction in Hong Kong Key Trends and Opportunities to 2021
Construction in Hong Kong Key Trends and Opportunities to 2021
Hong Kong ’ s construction industry registered positive growth during the review period ( 2012-2016 ). Construction activity was weak during the 2013-2016 period due to the economic slowdown in China and the resulting impact on trade relations . Consequently , poor business confidence had a negative effect on investments .
The industry ’ s output value in real terms increased at a review-period compound annual growth rate ( CAGR ) of 3.96 %, and is expected to post a forecast-period CAGR of 2.19 %.
The industry is expected to expand at a slow pace over the forecast period ( 2017 – 2021 ). This is mainly due to the prevalence of global economic uncertainty , on account of the new anti-trade policies to be adopted against China by President Trump . Hong Kong ’ s trade dependence on China is subsequently expected to adversely affect its economy . Efforts to strengthen the economy by focusing on developing the country ’ s commercial , housing , tourism and manufacturing sectors are expected alleviate the problem , although they will not solve it .
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