Global Political and Business Turmoil Takes A Toll on International Revenue

摘要

The U.S. construction market is in a slump, which usually is a signal for domestic contractors to take up the slack by looking abroad. But the international market last year provided even worse returns for ENR's Top 400 Contractors than they experienced at home. Many of the same factors that hurt the U.S. market in 2002 simply crossed borders. The Top 400 report 2002 revenue of $19.60 billion from projects outside the U.S., down 10.9% from the $22.03 billion in 2001. This downturn is part of a continuing trend that began in 1999, the high-water mark for the Top 400, when international revenue hit $29.63 billion. In 2000, international revenue dropped to $25.45 billion. One reason for the slump is financial volatility in international petroleum and industrial process work, two markets that have long dominated the Top 400's overseas revenue total. These sectors accounted for $19.1 billion in international contracting revenue for the Top 400 in 1999, but only $11.4 billion in 2002.