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Tuesday 12.12.2017 | Name days: Otīlija, Iveta
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Latvia’s construction industry declines by 3.4%

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn Q2 2015, as compared to the corresponding period of 2014, construction production volume decreased by 3.4%.

Construction production volume at current prices accounted for EUR 405.1 million, according to data from the Central Statistical Bureau of Latvia.

In Q2 2015 as compared to Q2 2014 construction volume of buildings declined by 11.9%, of which construction of residential buildings decreased by 16.7%, and construction on non-residential buildings – by 10.2%. Decrease was recorded in construction of office buildings (of 38.7%), hotels and similar buildings (38.8%), as well as in construction of traffic and communications buildings (20.1%). In turn, growth was registered in construction of two apartment buildings (of 20.6%), as well as of wholesale and retail trade buildings (of 10.5%).

In Q2 2015 as compared to the corresponding quarter of the previous year, construction of civil engineering structures which accounted for 50% of all construction (EUR 202.4 million), grew by 6.9%. Of which construction of harbours, waterways, dams and other water works increased by 63.4%, construction of highways, streets, roads, airfield runways, railways – by 12.5%. In turn, decrease was registered in construction of main pipelines, communications and power transmission lines (of 11.5%), as well as in construction of bridges and tunnels (of 8.4%).

In Q2 2015, 576 building permits1 were granted for construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space of 120.2 thousand m2. Compared to Q2 2014 it is 37 building permits less, and the intended total floor space has decreased by 6.2%. In Q2 2015, 406 building permits were granted for construction of new buildings with the intended floor space of 87.1 thousand m2.

60 building permits for the total intended floor space of 75.3 thousand m2 have been granted for construction of industrial buildings and warehouses, and compared to Q2 2014 it is 29 building permits less, and the intended floor space has decreased by 36.0%.

In Q2 2015, 31 building permits have been granted for construction of new industrial buildings and warehouses with the total intended floor space of 41.9 thousand m2, which is 22 building permits less than in the corresponding period of the previous year.

720 apartments were commissioned in Q2 2015, which is an increase of 78.2% as compared to Q2 2014.

Ref: 102.109.109.7383


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