- Volume 17 Issue 2
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Impact Analysis of Economic Fluctuation of Saudi Arabia on Korean Overseas Construction Business
사우디아라비아의 경제변동이 한국의 해외건설 수주에 미치는 영향분석
- Received : 2015.12.02
- Accepted : 2016.03.03
- Published : 2016.03.31
According to the order receipt report over the past 10 years the overseas construction business total trades were 54.05% and 68.09% done by the Middle East and other industrial facilities respectively. In the Middle East based on data collected in 2014 the country with most overseas construction business is Saudi Arabia with 34.10%, and the industrial facility occupies the larger share with 56%. Overseas construction business is suffering from a reduction in work orders in the Middle East because of the recent oil price reduction. At this point of view, it is necessary to consider economy fluctuation for the diversification of construction type and work orders. This study analyzed, focusing in Saudi Arabia how the economical fluctuations of nations of progress can affect overseas construction business' trade orders. The analysis results demonstrated that most construction types depends on GDP, investment fund. Also industrial facility can be substituted with Architecture and civil engineering. This work is expected to be used as a basis for trade order amount maintenance and construction type diversification.
Overseas Construction Business;Saudi Arabia;Economic Variable;VECM(Vector Error Correction Model)
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