The construction industry has been one of the major catalysts for economic growth in Russia over the past few years. This role is expected to intensify in the coming years, largely supported by multi-billion rouble investments by public authorities in construction projects planned for the near future.
During the first half of the year, construction output managed to maintain a growth pace above that of the GDP, recording a 5.4% expansion in year on year terms while GDP managed to expand by only 4.5% for the same period. At the same time, the production of cement in Russia totalled nearly 27.8 million tonnes in H1 2012, representing a 14.1% annual increase. However, the high base set during the summer of 2011 contributed partly to a deceleration in annual growth rates to 12.7% for the first seven months of the year and to 11.5% for the January-August period.
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