Tuesday, February 11, 2020
The contribution of the construction industry to economic development Dissertation
The contribution of the construction industry to economic development in Libya - Dissertation Example Over the next ten years i.e. 1991-2001 both GDP of construction industry and national GDP were increased significantly and the contribution of construction industry to LibyaÃ¢â¬â¢s GDP was also increased significantly. In 2001 this contribution reached at 7.03%. However, since 2001 it again started to lower and quite surprisingly it came to almost 3.95% in the year 2006. In the next three years construction industry has contributed 4.52%, 5.13% and 8.78% respectively. Question 2 These percentage contributions of construction industry to the national GDP tells the way LibyaÃ¢â¬â¢s construction industry has grown with the growth of the countryÃ¢â¬â¢s economy. During the period of 1986-1991 construction industryÃ¢â¬â¢s growth was quite volatile whereas the national economy has grown consistently. In other words construction industry failed to perform in a constant way with respect to LibyaÃ¢â¬â¢s economy. Similar trend is also observed over the next ten years i.e. 1991-2001 an d main reason behind such findings is the fact that there is lack of consistency in the growth of construction industry although the national economy has grown on a regular basis. However, data shows that during 2004-2009 this industry has grown constantly (from 2159.2 Million Libyan Dollar to 7577.5 Million Libyan Dollar).