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23 April 2024

Construction industry contributed $186.8 bn to Arab GDPs in 2021

By wam

The Arab Monetary Fund (AMF) said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8 billion, up from $178.3 billion in 2020, or a 4.7% increase.

The Saudi and UAE construction sectors contributed the most to their countries' GDPs, with around $45.5 billion and $36.8 billion, respectively, AMF added in a recent report.

Egypt ranked third with around $27.3 billion, followed by Qatar, $24.1 billion, Algeria, $19.8 billion, Morocco, $7.7 billion, and Oman with $6.4 billion, according to the report.

Construction output ranged from $1 to $6 billion in Iraq, Kuwait, Bahrain, Sudan, Libya, and Jordan, while it contributed less than one billion dollars to the GDPs of other Arab countries.