The Republic of Ireland’s construction industry now accounts for around a quarter of the country’s economic activity, according to a new report.
AMA Research Ltd’s report, its first on the Irish construction industry, says the sector’s output was worth an estimated €23.7bn in 2003, up 11% on the previous year, rising to about €28.1bn in 2004.
Construction output represented about 18% of GDP in 2003, while 15% of the national labour force are estimated to be engaged in the industry.
Residential housing was the largest sector in the construction market in 2003, with 62% (€14.6bn) of the total output by value. Completions reached a record of 68,819, more than 19% above 2002 levels.
