(Construction) - The preliminary figures for overseas construction orders received by 51 member companies of the Overseas Construction Association of Japan for the first half of FY2022 (April-September) totaled 1.066 trillion yen, a record high.
This is a 46.1% increase over the same period last year and the first time since 2018 that the amount exceeded 1 trillion yen. This is believed to be due to the progress in recovery from the pandemic both in Japan and overseas. The overall increase in orders was driven by a significant increase in projects in the main markets of Asia and North America.
Japanese Companies
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The value of orders received by corporations based in Japan increased 159.3% to 387,568 million yen as many companies won orders for large-scale projects. The amount awarded to local subsidiaries increased 16.9% to 679.235 billion yen. By region, the value of orders in Asia increased 75.1% to 613.213 billion yen, and North America increased 39.8% to 303.763 billion yen, both significantly higher than the same period last year. Asia saw orders for large-scale subway construction in Manila, the Philippines, Jakarta, Indonesia, and Singapore, which boosted overall value. In North America, there were large projects worth 10 billion yen or more for sewage works, factories, and commercial buildings.
The highest full-year record was in FY2019, when the value topped the 2 trillion yen. In FY2022, the value exceeded those in the first half of FY2019 as of the first half of the year. However, there are many uncertainties in politics and the economy, including trends in energy prices, economic decline in Europe and the United States, and the situation in Ukraine. At a press conference in Tokyo on December 1, an executive of the organization analyzed the situation, saying, "At this point, it is difficult to predict that FY2022 will reach a record high for the full year.” (2022/12/01)
The Daily Engineering and Construction News of Japan
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