It is estimated that the construction industry will run globally this year with a growth of 5%, according to the latest GlobalData report.

Researchers report that the construction sector is likely to recover from the “historic collapse” of 2020 caused by travel bans and other restrictions due to the pandemic.

The production of the construction sector in 2021 will be 2.5% higher than the levels of 2019, however the total revenues of the sector will be lower by 1.1 trillion dollars compared to the turnover expected in the case that people were not affected by Covid-19.

GlobalData estimates that construction contracts decreased by 2.5% in 2020, when estimates at the beginning of the year saw a decline of 2.9%.