Construction Statistics Uk

Construction Statistics UK: A Thriving Industry

Overview

The UK construction industry is a major contributor to the national economy, accounting for 6.2% of GDP and employing over 2.9 million people. In recent years, the sector has experienced steady growth, driven by a combination of factors including government investment in infrastructure, a growing population, and a strong housing market.

However, the industry also faces a number of challenges, including a skills shortage, rising material costs, and Brexit uncertainty. Despite these challenges, the construction sector is expected to continue to grow in the coming years, with a number of major projects in the pipeline.

Key Statistics

• The construction industry's output was valued at £116.5 billion in 2022, an increase of 2.9% compared to the previous year.
• The industry employed 2.91 million people in 2022, up 2.7% from 2021.
• The construction sector accounted for 6.2% of GDP in 2022, up from 5.9% in 2021.
• The average weekly wage for construction workers is £650, 12.5% higher than the national average.
• The industry is expected to grow by 1.8% in 2023 and 2.3% in 2024.

Key Trends

• The construction industry is becoming increasingly digitalised, with new technologies being used to improve productivity and efficiency.
• There is a growing demand for sustainable construction, as businesses and consumers become more environmentally conscious.
• The industry is facing a skills shortage, with a particular need for skilled tradespeople.
• Brexit is creating uncertainty for the construction industry, as it could lead to changes in regulations and the availability of labour.
• The government is investing in infrastructure projects, such as new roads, railways, and schools, which is providing a boost to the construction sector.

Conclusion

The UK construction industry is a major contributor to the national economy and is expected to continue to grow in the coming years. However, the industry faces a number of challenges, including a skills shortage, rising material costs, and Brexit uncertainty. Despite these challenges, the construction sector is expected to remain a key part of the UK economy.