S.Korean builders' overseas orders top 30 bln USD for 3rd year in 2022

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SEOUL, Jan. 10 (Xinhua) -- South Korean builders' overseas construction orders has topped 30 billion U.S. dollars for a third consecutive year in 2022 due to robust demand from Asia as well as the North American and Pacific Ocean regions, government data showed Tuesday.

Local builders won a total of 31 billion dollars from overseas construction orders in 2022, slightly up from 30.6 billion dollars in the prior year, according to the data compiled by the Ministry of Land, Infrastructure and Transport as well as the International Contractors Association of Korea.

In 2020, the corresponding figure was 35.1 billion dollars.

The 2022 growth was attributed to solid demand from Asia and North America.

Construction orders, secured from Asia, surged 31.9 percent from a year earlier to 12.2 billion dollars in 2022, while orders from the North American and Pacific Ocean regions advanced 15.3 percent to 4.5 billion dollars.

Orders from the Middle East and Europe declined in double digits to 9.0 billion dollars and 3.4 billion dollars each in 2022.

By nation, domestic builders clinched the largest construction orders of 3.67 billion dollars from Indonesia, followed by Saudi Arabia with 3.48 billion dollars and the United States with 3.46 billion dollars, respectively.

Of the total, industrial plants orders took up the highest portion of 42 percent, trailed by construction orders with 28 percent and civil engineering projects with 19 percent. Enditem

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