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Latvian construction output grows 13% in H1
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    Latvian construction output grows 13% in H1

    RIGA, Aug 11 (LETA) - In the first half of 2017, the Latvian construction sector increased calendar-adjusted output by 13 percent at constant prices against the same period a year ago to EUR 606.4 million at current prices, the Central Statistics Bureau (CSB) informed.

    Construction of residential buildings slowed 1.8 percent, construction of non-residential buildings rose 12.6 percent and construction of engineering structures increased 21 percent year-on-year.

    Compared to the corresponding period of 2016, in the second quarter of 2017 construction output increased by 15.9 percent (according to calendar adjusted data at constant prices). Construction production output at current prices amounted to EUR 384.4 million. Construction growth was influenced by the rise in construction of non-residential buildings (of 17 percent) and construction of civil engineering works (of 28.1 percent), whereas construction of residential buildings fell by 14.6 percent.

    Compared to the corresponding quarter of the previous year, significant construction output increase within the group of construction of non-residential buildings was recorded in construction of industrial production buildings and warehouses, the construction output whereof went up 2 times, as well as construction of school, university and research buildings (rise of 65.7 percent). Decline, in its turn, was observed in construction of hotels and similar buildings (of 55.1 percent) and construction of hospital or institutional care buildings (of 24.5 percent).

    The slowdown of construction of residential buildings was influenced by the reduction in construction of three- and more dwelling buildings of 19.7 percent, however construction of single dwelling buildings and construction of two- or more dwelling buildings went up by 6.4 percent and 7 percent, respectively.

    The rise in construction of civil engineering works was affected by the increase in construction of harbors, waterways, dams and other waterworks (of 68.6 percent), construction of highways, streets, roads, airfield runways, railways (of 28 percent), and construction of long-distance pipelines, communication and electricity lines (of 17.9 percent).

    • Published: 11.08.2017 13:37
    • LETA
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