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Monday 25.09.2017 | Name days: Rauls, Rodrigo
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17.8% decline registered in construction sector in 2016

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to 2015, construction output declined by 17.8 % in 2016, according to calendar adjusted data.  Construction output at current prices amounted to 1425.9 million euros.

Decline in construction of civil engineering structures of 33.3 % (40.7 % of the total construction output) put notable downward pressure on the construction output. Drop was observed in almost all fields of construction of civil engineering structures – 31.3 % in construction of harbours, waterways, dams and other waterworks, 29.9 % in construction of bridges, elevated highways, tunnels, and 29.5 % in construction of highways, streets and roads, airfield runways, and railways. Significant decline was recorded also in construction of local pipelines and cables – of 11.5 %. Increase, in turn, was observed in construction of long-distance pipelines, communication and electricity lines – of 6.2 %, according to data from the Central Statistical Bureau of Latvia.

Last year, construction of buildings reduced by 2.2 %, which was due to the 4.0 % decrease in construction of non-residential buildings.

Compared to the corresponding period of 2015, in Q4 2016 construction output (according to calendar adjusted data at constant prices) fell by 11.8 %, constituting 441 million euros at current prices.

The decline recorded in Q4 2016 was influenced by 28.5 % decrease in output of construction of civil engineering structures, which was affected by the decline in construction of bridges and tunnels of 50.6 %, construction of highways, streets, roads, airfield runways, railways of 25.9 %, as well as construction of harbours, waterways, dams and other water works of 15.1 %. In its turn, an increase – of 8.8 % – was observed in construction of long-distance pipelines, communication and electricity lines.

Compared to the corresponding period of the previous year, in Q4 2016 construction of buildings increased by 6.1 %, of which construction of residential buildings grew by 36.5 %, whereas construction of non-residential buildings reduced by 2.1 %.

Compared to the quarter before, in Q4 2016 construction output increased by 2.6 % (according to seasonally adjusted data at constant prices), of which construction of buildings by 5.8 % and construction of civil engineering structures by 2.5 %.

In 2016, a total of 1,846 building permits were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space 359.1 thousand m2. Out of the total number, 1,329 permits or 72 % of the number thereof were issued for construction of new buildings with the intended floor space of 250.3 thousand m2. In turn, 178 building permits were granted for construction, capital repairs, reconstruction and restoration of industrial buildings and warehouses with total intended floor space of 293.6 thousand m2, of which 99 permits with the total intended floor space of 173.2 thousand m2 were issued for construction of new industrial buildings and warehouses.

In Q4 2016, a total of 429 building permits were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space 80.8 thousand m2. The bulk of the permits (73 %) with 60.7 thousand m2 of intended floor space were issued for new construction.

Out of the total number, 32 building permits were granted for construction, capital repairs, reconstruction and restoration of industrial buildings and warehouses with the total intended floor space of 39.6 thousand m2, a half (50 %) of which with total intended floor space of 14.6 thousand m2 were issued for construction of new industrial buildings and warehouses.

Ref: 225.109.109.9851


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