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British Construction Industry Produces 2,7 Million Employement

Since 2009, the construction industry’s GVA in the United Kingdom has been growing, reaching nearly 105 billion British pounds in 2016. The following year, 36 percent of all construction work carried out across the United Kingdom was for repair and maintenance purposes. Approximately 23 percent of the construction output was done for housing, with the majority being intended for private ownership.

 

 

Following Carillion’s liquidation, there are still three UK based  construction companies in operation with an annual turnover exceeding three billion British pounds. As of 2017, Balfour Beatty was the largest of these with an annual revenue of 8.2 billion British pounds, nearly twice as much as the second largest entry. Overall, the production value of the industry amounted to roughly 288.9 billion euros in 2016.

 

 

As of the third quarter of 2017, the number of British construction firms totaled 314,590, with 260 of these firms employing 300 people and more each. Across the UK, there were  2,73 million people employed either directly or indirectly by the construction industry. By 2022, this was forecast to rise 2,77 million.

 

 

The growth in production value of the industry is echoed in the number of new dwellings being commenced or completed. Since the financial crash in 2008, figures have been increasing in all countries. In England, the number of dwellings started amounted to more than 160,000 in 2017/18, with new housings commenced in Wales reaching 6,037. By comparison, the number of those completed totaled 172,400 in Great Britain.