S. Korea's overseas construction orders down to USD25.47b in H1
(MENAFN) The South Korean government said that overseas construction orders won by South Korean builders declined sharply in the first half as low oil prices led the drop, Yonhap News reported.
In the first six months of the year, overseas construction orders came to USD25.47 billion, down 32.1 percent on-year, according to the Ministry of Land, Infrastructure and Transport.
In the January-June period, construction orders from Middle Eastern nations tumbled 71.9 percent to USD6.96 billion from USD24.74 billion in the same period last year.
The ministry said local builders will likely continue facing difficulties in the second half, partly due to a continued drop in global oil prices, as well as global economic uncertainties.
In the first six months of the year, overseas construction orders came to USD25.47 billion, down 32.1 percent on-year, according to the Ministry of Land, Infrastructure and Transport.
In the January-June period, construction orders from Middle Eastern nations tumbled 71.9 percent to USD6.96 billion from USD24.74 billion in the same period last year.
The ministry said local builders will likely continue facing difficulties in the second half, partly due to a continued drop in global oil prices, as well as global economic uncertainties.
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