Construction in Latvia in the 2nd quarter of 2008

22.08.2008

Compared with the 2nd quarter of 2007, construction in Latvia in the 2nd quarter of 2008 rose on average by 5.7% (at constant prices), according to the Central Statistical Bureau. Of which volume of new construction grew by 9.6%, repairs and reconstruction – by 0.6%.

Of total volume of construction and repairs new construction and repairs of main pipelines, communication and power lines increased 1.7 times, of motorways and streets – 1.5 times, of production buildings and warehouses – 1.3 times. Over the same period there have been decreases of 27.7% in the construction and repair of residential buildings and of 41.5% in the construction of hotels and similar buildings.

In the 2nd quarter of 2008 new residential buildings with total floor space of 235.0 thsd m2 were commissioned, an increase of 1.0% if compared to 2nd quarter of 2007.

Compared to first quarter in the second quarter of this year with the beginning of the construction season volume of street and road construction (share in total construction volume in the 2ndquarter of 2008 – 20%) has increased noticeably, as well as, did volume of main pipeline, communication line and wholesale and retail building construction.

Changes of construction production and volume in 2nd quarter of 2008

  Total (current prices, thsd LVL)  % (constant prices, seasonally adjusted data) over 2nd quarter 2007

Total

463062

5.7

Of which:

Residential buildings

62392

-27.7

Hotels and similar buildings

5017

-41.5

Office buildings

53060

1.6

Wholesale and retail trade buildings

22018

-25.7

Production buildings and warehouses

49347

32.9

Buildings for sports events

8241

16.4

Schools, universities and research institutions

12948

24.2

Health care and social care buildings

6234

-1.3

Motorways, streets, roads, airfields, runways, railway lines

94909

50.3

Bridges and tunnels

13190

-2.0

Ports and dams

9626

47.7

Main pipelines, communication and power lines

28150

71.6

Local pipelines and cable lines

21092

70.5

Compared to 1st half of 2007 in the 1st half of 2008 construction volume has grown by 6.6% (at constant prices), of which new construction – by 10.8%, repairs and reconstruction – by 0.6%.

More information on construction in Latvia is available in the Database of the CSB.

Prepared by the Investment and Real Estate Statistics Section
Tel. + 371 67366828
Lilita Filipsone