The construction industry, particularly those activities in the residential, commercial and civil engineering sub-sectors, expanded strongly in the 1990s as reflected in the high growth of output value, total employment, and salaries and wages of the industry. The expansion of the industry was supported by the strong growth in bank lending to the sector.
In 1997, the industry contributed some 4.8 per cent to GDP and employed about 9.2 per cent of total workforce. The industry has strong linkages with other industries in the economy such as sawmills, distributive trades, and construction-related manufacturing. For RM1 billion worth of output from the building and construction industry, about RM505 million of input will be generated from domestic industries. Imports constituted about one-fifth of the industries output.
In the present environment, contractors are forced to cut cost by reducing salaries and retrenching workers. Performance in the construction related industries such as building materials, distributors, machinery and equipment suppliers, and consulting engineering is significantly affected.
In 1997, the industry contributed some 4.8 per cent to GDP and employed about 9.2 per cent of total workforce. The industry has strong linkages with other industries in the economy such as sawmills, distributive trades, and construction-related manufacturing. For RM1 billion worth of output from the building and construction industry, about RM505 million of input will be generated from domestic industries. Imports constituted about one-fifth of the industries output.
In the present environment, contractors are forced to cut cost by reducing salaries and retrenching workers. Performance in the construction related industries such as building materials, distributors, machinery and equipment suppliers, and consulting engineering is significantly affected.
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