Value of Gross Construction Output Rises 4.3%

December 7, 2021 – Ana Custódio

The year 2021 should mark the start of Portugal’s economic recovery from the crisis caused by the pandemic.

With economic projections pointing to GDP growth of 4.5% in 2021, partially recovering from the 8.4% drop in 2020, this year should mark the start of Portugal’s economic recovery from the crisis caused by the pandemic.

According to the Conjuncture Analysis of the Construction Sector released today by AICCOPN (Association of Civil Construction and Public Works Industries), estimates are that the gross value of construction output this year will end with an overall growth of 4.3%, in line with the European Commission’s forecasts.

Most sector indicators are showing growth throughout 2021. Cement consumption in the domestic market registered year-on-year growth of 5.9% to October, to 2.868 million tonnes. The area licensed by City Councils for housing increased by 17.2% y-o-y in the first nine months of 2021.

Translation: Richard D K Turner