,Hong Kong

Construction sector dips by 4.2%

Construction work at private sector sites recorded the highest drop in 2020.

The total gross value of construction work performed by main contractors in nominal terms dropped by 4.2% to $226.4b in 2020 from $234.2b in 2019, according to the latest government survey.

After discounting the effect of price changes, the total gross value of construction works performed by main contractors in 2020 decreased by 4.5% in real terms against 2019.

Construction works at private sectors recorded the highest drop in nominal terms in 2020 at 20% loss to $58.6b against $72.3b in 2019.

Meanwhile,construction works at the public sector was up by 12.3% to $70.4b compared to $61.9b in 2019

Analysed by major end-use groups, residential buildings projects accounted for the largest share in the total gross value of construction works performed at construction sites in 2020. The gross value of construction works performed in respect of these projects amounted to $49.8b in 2020, down by 22.3% in nominal terms compared with 2019.

Transport projects constituted the second largest group of construction site works in 2020. The gross value of construction works performed in respect of these projects totalled $34.6b in 2020, up by 30.6% in nominal terms compared with 2019.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The bourse’s income was dragged down by the delay in potential billion-dollar IPOs.
The city’s rival hubs such as Singapore have already reopened.
Particularly, the city is highly competitive in the high-net-worth and mass affluent space.
A study showed that it’s no longer the investment returns.
But 68% of them said their companies do not involve them in green initiatives.
The increase, however, was smaller than in the previous month's 1.6%.
Only 14% of businesses believe their situation will get better in Q4.
The number of jobless persons was down by around 7,100
This is as the weighted funding cost for deposits was steady during the month.
The 0.6% growth was driven by premium office space in the submarket.
Chief Secretary for Administration, John Lee, to take over until Lam recovers.
The airline’s overall tonnage grew MoM by more than 5% to 130,997 tonnes.
The airline carried ​​6,562 passengers on 17 September.