Private construction activity in the prevailing economic and credit environment was restricted mainly to repairs of existing properties and hardly any materials went towards the construction of new buildings. Moreover, repeated cutbacks in the public investment program have brought public works to a standstill. The configuration of current demand in the domestic market at extremely low levels made it imperative to secure profitable export destinations.
In 2012 export volumes rebounded from the exceptionally low levels of 2011, offsetting to a certain degree the decline of volumes sold in the domestic market. As a reminder, 2011 was a particularly bad year for TITAN's exports, which had been adversely impacted by the social uprising in Northern Africa and the civil war in Libya.