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S. Korea's overseas construction orders rise for 2nd year in 2023

SEOUL
2024-01-08 11:08

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SEOUL, Jan. 8 (Xinhua) -- South Korea's overseas construction orders rose for the second straight year in 2023, due to solid demand from the Middle East and North America, government data showed Monday.

Construction orders, won by local builders from abroad, amounted to 33.31 billion U.S. dollars in 2023, up from 30.98 billion dollars in 2022 and 30.58 billion dollars in 2021 each, according to the Ministry of Land, Infrastructure and Transport.

Orders from the Middle East grew to 11.43 billion dollars in 2023 from 9.02 billion dollars in the previous year, while those from North America and the Pacific region surged from 4.54 billion dollars to 10.31 billion dollars.

Orders from Asia dived from 12.21 billion dollars to 6.79 billion dollars in the cited period, while orders from Europe retreated from 3.41 billion dollars to 2.1 billion dollars.

Overseas orders to build industrial facility ranked first with 15.78 billion dollars last year, accounting for 47.4 percent of the total.

Building orders from abroad came next with 12.14 billion dollars, followed by civil engineering orders with 1.9 billion dollars.
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