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Tuesday 16.01.2018 | Name days: Lida, Lidija
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Construction costs in Latvia down by 0.1%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUCompared to January, level of construction costs in Latvia in February 2014 dropped by 0.3%. Maintenance and operational costs of machinery and equipment decreased by 0.7%, prices of building materials and labour remuneration of workers reduced by 0.2%, which was due to the impact of seasonal conditions.

Compared to February of previous year, construction costs fell by 0.1%. Maintenance and operational costs of machinery and equipment dropped by 1.4%, and the prices of building materials remained the same. Labour remuneration of workers grew by 1.5%, according to data of the Cenral Statistical Bureau of Latvia.

In 2014 data on the prices of construction resources are provided by about 180 construction enterprises and 30 trade enterprises. Construction cost calculations are based on the prices of building materials submitted by the enterprises for the calculation of producer price indices in industry and import price indices.

The sample includes construction enterprises with the highest value of own account construction works in 2013. The share of enterprises with the value of own account construction work exceeding EUR 1.4 million (LVL 1 million) per year comprised 64%, in 20% of which the value of own account construction work exceeded EUR 7 million (LVL 5 million) per year. The criterion for the sample of trade enterprises is their turnover and specialization.

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