Key Market Indicators
Cypriot Civil Engineering Revenue is projected to decline to approximately €194 million by 2028, down from €201 million in 2023. This marks an annual average decrease of 0.5%. The sector has been on a downward trajectory since 2011, with an annual reduction of 1.7%. In 2023, Cyprus ranked 33rd in civil engineering revenue, just behind Iceland, which also recorded €201 million. Leading the rankings were the United Kingdom, France, and Spain, occupying the second, third, and fourth positions, respectively. Similarly, civil engineering production in Cyprus is expected to decrease to around €175 million by 2028, from nearly €190 million in 2023. This represents an average annual decline of 1.2%. The country has experienced a 2.5% annual drop in production since 2011. In 2023, Cyprus held the 33rd spot in production, with Malta surpassing it at nearly €190 million. Germany, France, and Spain took the second, third, and fourth spots in these rankings.
