CIC - Construction Intelligence Center

Bulgaria construction industry set to recover pace

27 Jun 2017

Bulgaria’s construction industry is expected to reach US$11.9 billion in 2021 in real terms, measured at constant 2010 US dollar exchange rates, according to a report by Timetric's Construction Intelligence Center (CIC).


According to the report, the country’s construction industry will expand in real terms of the forecast period (2017-2021) due to ongoing public investment in road, rail and transport infrastructure, combined with improvements in consumer and investor confidence, and in regional and global economic conditions. 

In real terms, the industry’s output value is expected to register a forecast-period compound annual growth rate (CAGR) of 4.2%, a marked improvement over the 0.4% CAGR witnessed during the review period (2012-2016). The industry is expected to rise from a value of US$9.7 billion in 2016 to US$11.9 billion in 2021, measured at constant 2010 US dollar exchange rates.

Following a period of contraction on the back of broader economic weakness in the country, the Bulgarian construction sector rebounded in 2015 and registered a growth rate of 2.8% in real terms. This recovery continued in 2016, due to improvements in economic conditions and a decline in the budget deficit. 

Infrastructure and Energy & Utilities Construction to Drive Industry Growth 

Infrastructure construction was the largest market in the Bulgarian construction industry during the review period, accounting for 52.2% of its total value in 2016. The market is expected to retain its position over the forecast period, to account for 53.7% of the industry’s total value in 2021. 

“The market will be supported by government plans to improve the country’s transport infrastructure. The forecast-period growth will also be supported by the government’s focus on developing road and rail infrastructure in the country under the Transport and Transport Infrastructure 2014–2020 program,” comments Danny Richards, Lead Economist at Timetric's CIC.

Various road infrastructure projects such as the Struma motorway connecting Sofia with the Greek border, the Hemus motorway connecting Sofia with coastal Varna, and the Cherno More motorway connecting Varna with Burgas are expected to complete over the forecast period.

Accounting for 14.3% of the industry’s total value in 2016, energy and utilities construction was the second-largest market in the Bulgarian construction industry during the review period. The market is expected to follow a similar trend over the forecast period, with 14.1% of the industry’s total value in 2021. Government plans to increase the share of renewable energy in the country’s total energy mix are expected to drive forecast-period growth. Construction of water treatment plants and installation of water pipelines are also expected to drive growth. 

About this report

This information is taken from the Timetric report: ‘Construction in Bulgaria – Key Trends and Opportunities to 2021’.
To find out more information about the report, please contact us at To purchase the full report, click here

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