The construction value added in Malaysia stood at 16.963 billion USD in 2023, displaying a moderate increase of 2.68% from the previous year. Year-on-year variations indicate a steady but tapering growth, with recent years showing smaller increments, like 3.11% in 2020 and 2.81% in 2022. The average annual growth rate (CAGR) over the last five years has been approximately 2.97%. Forecasted data suggests continued, albeit slower, growth, with a five-year CAGR from 2024 to 2028 predicted at 1.83% and a cumulative growth rate of 9.49% over the period.
Future trends to watch for:
- Potential economic fluctuations impacting construction investments.
- Government policies and infrastructural development initiatives.
- Integration of technology and sustainable practices in construction.
