From 2013 to 2023, the turnover of residential and non-residential construction in Finland has demonstrated a general upward trend, growing from €12.16 billion to €21.12 billion, reflecting a compound annual growth rate (CAGR) of approximately 5.18% over the past decade. Notably, the turnover witnessed significant jumps, particularly in 2017 (15% growth) and 2018 (11.17% growth), before stabilizing at moderate growth rates in recent years. The year 2023 experienced a 3.46% increase from the previous year, indicating continued, albeit slower, growth.
In 2023, the turnover stood at €21.12 billion. Looking forward, the forecast for the period from 2024 to 2028 suggests a more modest growth trajectory, with a projected 5-year CAGR of 2.39%, leading to an overall growth rate of 12.52% by 2028.
Future trends to watch for:
- Potential impacts from economic fluctuations on construction demand.
- Technological advancements influencing construction efficiency and cost.
- Government policies and regulations affecting the construction industry.
- Environmental sustainability trends driving changes in building practices and materials.
