Construction activity in Spain has declined, but is showing signs of stability
The Spanish construction sector experienced a significant decline until September 2023. According to DoubleTrade, the value of construction work fell by 11% compared to the previous year, while the volume of work fell by 13%. In total, work worth 57.5 billion euros was carried out, compared to 64.9691 million euros in the previous year.
Despite the decline, Xavier Piccinini, Managing Director of DoubleTrade Spain, emphasizes a certain stability in the figures. Inflation and rising prices were cited as possible causes for the current trends, but there are also positive signs for the future of the sector. The report highlights the role of two major projects in the previous year, which may have influenced the comparison of annual figures.
Regionally, Catalonia and Andalusia led the way with over 5,000 construction projects, followed by regions such as Galicia, Castilla y León, Madrid and the Comunidad Valenciana, which each recorded more than 2,000 projects. The remaining regions remained below this mark.
