"Construction in Tunisia - Key Trends and Opportunities to 2018" Published

The Tunisian construction industry recorded a compound annual growth rate (CAGR) of 3.77% during the review period (2008-2013). The review-period growth was supported by the government-led social housing projects and increased foreign direct investment (FDI) in the real estate sector. Despite the economic and political instability, the industry's outlook is favorable, due to the government's focus on improving the country's infrastructure and residential requirements. Industry growth will also be driven by developments in the tourism and retail sectors, as well as the country's new investment code, which includes several blocks, such as guarantees on investment and access to investment incentives. The construction industry's output is expected to record a CAGR of 5.26% over the forecast period (2014-2018).

Full Report Details at
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Report Highlights

* In 2011, Tunisia underwent political upheaval, resulting in the eviction of President Ben Ali and the election of the Constituent Assembly. This impacted the country's economic growth in 2011 and resulted in a decline in FDI inflows in real estate. To promote growth in the economy, the International Monetary Fund (IMF) approved a loan of US$1.7 billion to support economic reforms in 2013. The contribution of the construction industry to GDP stood at 3.8% in 2013 and the value added to the industry in nominal terms, increased from TND2.7 billion (US$1.9 billion) in 2011 to TND2.9 billion (US$1.8 billion) in 2013. Forecast-period growth will be supported by the investments in tourism and social housing projects, and government efforts to revive the economy.
* Economic and political instability in 2011, resulted in economic contraction, from 2.9% in 2010 to 1.9% of the GDP in 2011. The economy rebounded in 2012 and registered an economic growth of 3.6% in 2012 and 2.6% in 2013. Realizing that unemployment had partly initiated the 2011 uprising in the country, the government started a public recruitment process to address this problem and lower unemployment from 16.7% in 2012 to 15.3% in 2013. Unemployment will continue to be a main government focus to achieve economic stability. Office space will be required to accommodate the increasing number of personnel and support the forecast-period growth of the office buildings category.
* Tunisia is rich source of phosphates and is one of the leading phosphate producers in the world. Due to social and political unrest, and labor strikes in 2011, production declined from 8MT (million tons) in 2010 to 2.6MT in 2012. However, according to National Institute of Statistics - Tunisia (INS), the production index of the mining industry increased from 44.9 in 2012 to 50.5 in 2013. The Ministry of Industry, Mines and Energy aims to increase the phosphate production from lower than 3MT in 2013 to 8MT in 2016 and 12MT by 2020. The Ministry also plans to invest TND4.1 billion (US$2.5 billion) in phosphate mines, in Midwest Tunisia.

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