The construction output in China from 2013 to 2023 exhibited fluctuations. A rise in 2014 was followed by a decline in 2015 and another increase in 2016. The subsequent years showed volatility, with noticeable drops in 2018 and 2020 and an appreciable recovery in 2021. However, 2022 marked a significant decline, which partially recovered in 2023. The value for 2023 stood at 73.79 million square meters. The last two years saw a -14.98% and a 2.71% change in value, respectively. The five-year CAGR leading to 2023 was -1.05%.
Future trends to watch for include:
- Continued downward trend in construction output, with a forecasted 5-year CAGR of -1.64%.
- Potential for technological innovations and sustainability initiatives to influence output.
- Impact of economic policies and global market conditions on the construction sector.