In 2010 the Bulgarian construction sector continued to shrink due to the consequences of the global economic crisis. The major problem for the construction industry was the lack of private and public investments, according to market experts.
The country’s construction sector registered an average annual drop of 16.9% on the year in 2010, while the decrease of the construction output in the EU-27 countries was 4.3% average, Eurostat data showed.
In 2010 the number of construction companies slumped to 4,200 from 5,400 in the previous year, data of the Bulgarian Construction Chamber (BCC) showed. The number of employed persons in the sector went down by 21.3% on the year in 2010 thus further boosting the country’s unemployment rate.