Construction in Latvia in the 4th quarter of 2008

27.02.2009

Compared to 4th quarter of 2007 construction in Latvia in the 4th quarter of 2008 decreased by 11.2% (at constant prices), according to the Central Statistical Bureau. Of which volume of new construction reduced by 11.1%, repairs and reconstruction – by 11.3%.

Construction and repair of administrative buildings diminished by 24.6%, of industrial buildings and warehouses – by 28.0%, of residential buildings - by 49.6%. But volume of wholesale and retail trade buildings grew by 66.8%, construction of main pipelines, communication and power lines – by 13.6%, of local cables and pipelines – by 13.4%, of motorways and streets – by 12.3%.

Compared to 3rd quarter of 2008, in the 4th quarter of 2008 construction volume has decreased by 9.7% (at constant prices), of which new construction – by 1.8%, repairs and reconstruction – by 16.1%.

Changes of construction production in 4th quarter of 2008

Total (current prices, mln lats)

% (constant prices, seasonally unadjusted data) over 4th quarter of 2007

Total

478.5

-11.2

Of which:

 

 

Residential buildings

55.6

-49.6

Hotels and similar buildings

5.4

-61.0

Office buildings

60.6

-24.6

Wholesale and retail trade buildings

33.2

66.8

Production buildings and warehouses

30.1

-28.0

Buildings for sports events

8.4

3.2

Schools, universities and research institutions

16.8

-10.3

Health care and social care buildings

8.0

-24.7

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

88.0

12.3

Bridges and tunnels

12.3

-16.9

Ports and dams

8.4

7.2

Main pipelines, communication and power lines

38.0

13.6

Local pipelines and cable lines

21.6

13.4

In the 4th quarter of 2008 new orders have been concluded on construction of buildings and civil engineering objects for 187.4 mln lats which, is less by 50.2% than in the 4th quarter of 2007 and by 32.6% than in the 3rd quarter of 2008.

In 2008, compared to 2007, construction volume decreased by 3.7% (at constant prices). Of which volume of new construction reduced by 1.6%, repairs and reconstruction – by 6.2%.

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

Prepared by the Investment and Real Estate Statistics Section
Tel. +371 67366857
Arvīds Uibo