European contractors saw +10.8% international increase in 2011
By Chris Sleight14 November 2012
The value of work carried out by European contractors working outside their domestic national markets increased +10.8% last year to € 156.4 billion (US$ 203 billion), according to data from European International Contractors (EIC). However, new orders won by this group of 200 or so companies fell -1.1% to € 169.4 billion (US$ 220 billion).
In terms of revenues, other markets in Europe made a major contribution to international revenues last year. Other countries in the region have always been the biggest source of overseas work for European contractors, and last year was no exception, with € 73.4 billion (US$ 95 billion) worth of work carried out. This was a +13% increase on the previous year, and meant that Europe accounted for 47.5% of the group’s total overseas revenues.
The second largest region for European contractors working overseas was Asia and Oceania last year, where revenues totalled € 27.2 billion (US$ 35 billion), or 17.8% of the total. This figure was up +12.6% on the 2010 total of € 24.2 billion (US$ 31 billion).
Next on the list of major markets was the US and Canada, where revenues rose +4.6% last year to € 20.4 billion (US$ 27 billion). Revenues were also up +2.1% to € 13.3 billion (US$ 17 billion) in Africa among European contractors, while the Middle Eastern market for this group fell -1.9% to € 11.4 billion (US$ 15 billion).
The surprise in the revenue figures was Latin America, the smallest overseas market for European contractors. Here revenues were up just under +40% to € 9.7 billion (US$ 13 billion) last year.
Although this meant Latin America still represented the smallest slice of international revenues for European contractors – just 6.2% of the total – fairly steady growth over the last seven years has seen this market increase in significance. In 2005 it represented only 3.0% of total revenues.
Click here to read the full analysis of the EIC’s figures. The report is also published in the November issue of International Construction, which is available to view online or download as a .pdf file. You need to register to receive digital issues of International Construction or to download the .pdf version. Click here to go to our registration form.
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