Construction keeps growing

14.05.2014

Owing to the favourable weather conditions and implementation of construction projects financed from the EU Funds, construction in Latvia continues to grow. The latest data compiled by the Central Statistical Bureau of Latvia show that, in the first quarter of 2014, construction volume comprised EUR 254.3 million.

Construction volume index (2010 = 100)

As compared to the 4th quarter of 2013,  construction volume in the first quarter this year increased by 13.0%, according to calendar adjusted data at constant prices. Of which construction of buildings grew by 22.6%, and construction of civil engineering structures - by 4.0%.

Compared to the first quarter a year ago, construction volume in the first quarter this year went up by 24.6%, according to calendar adjusted data at constant prices. Construction of buildings rose by 34.1%; of which construction of office buildings increased by 97.4% (7.5% of the total construction volume) andconstruction of residential buildings - by 44.3% (16.8% of total construction). Due to the notable rise in construction of local pipelines and cables of 21.8% (5.2% of total construction), as well as in construction of harbours - of 20.8% (5.8% of total construction), construction of civil engineering structures,as compared to the 1st quarter of the previous year, increased by 11.9%. Construction volume drop was recorded in construction of streets and roads - of 4.8% (6.1% of total construction) and in construction of bridges - of 19.4% (2.0% of total construction).

Construction volume and changes

 

Total (at current prices mln EUR)

1st quarter of 2014 compared to

4th quarter of 2013, % (at constant prices, seasonally adjusted)

1st quarter of 2013, % (at constant prices, calendar adjusted)

Total

254.3

13.0

24.6

of which:

 

 

 

Residential buildings

42.8

27.5

44.3

Hotels and similar buildings

8.4

84.7

84.3

Office buildings

19.1

7.4

97.4

Wholesale and retail trade buildings

10.3

-3.6

11.3

Industrial buildings and warehouses

18.4

-16.7

6.9

School, university and research buildings

14.6

3.5

6.8

Hospital or institutional care buildings

8.9

29.1

9.9

Highways, streets, roads, airfield runways, railways

15.4

-11.8

-4.8

Bridges and tunnels

5.2

-34.4

-19.4

Harbours and dams

14.8

22.8

20.8

Main pipelines, communication and electricity lines

19.4

0.9

11.8

Local pipelines and cables

13.3

22.7

21.8

In the first quarter, 375 building permits were granted for construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space of 82.3 thousand m2. Compared to the corresponding period of the previous year, it is 62 building permits more and the intended total floor space has increased by 5.4%. 239 building permits were issued for the construction of new single dwelling buildings with the total floor space 53.7 thousand m2, which is 26.5% of the total floor space and 54 permits more.

In turn, 131 building permits were granted for construction of industrial buildings and warehouses with the total floor space of 136.4 thousand m2. As compared to the 1st quarter of the previous year, 57 building permits more were issued for the total floor space smaller by 16.5%. 95 permits were granted for the construction of new industrial buildings and warehouses with total floor space 87.3 thousand m2, which is 57 permits more than in the 1st quarter of 2013; the intended floor space has also increased by 49.8%. 

More information on construction volume indices and building permits is available in the CSB homepage database Construction

More information
Arvīds Uibo
Investment and Real Estate Statistics Section
Phone: +371 67366857