Building And Construction In Asia Pacific > Thailand > Thailand
Total construction work done (in nominal terms) is forecast to rise by 2.5% in 2021 (down from a previous forecast of +2.9%). Work done in Q3 dipped 2.9% y/y, largely driven by delays in civil engineering projects. Activity is expected to ramp up in Q4 and through to 2022 (+8.9%) as delayed projects proceed across the subsectors. This momentum is expected to continue over the three years to 2025, with growth forecast to average 6.5% pa. Significant downside risks remain should activity be hampered by Omicron-related restrictions.
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