Construction output in Latvia in 2006

13.03.2007

The value of construction output in 2006 reached 1131.6 mln lats, an increase of 14.4% (at constant prices) in comparison to 2005, according to the Central Statistical Bureau.

Previous year the value of own account construction work done outside the Republic of Latvia was 10.5 mln lats (6.3 mln lats in 2005). The bulk of construction work was actually done in the countries of the European Union and the CIS countries, 6.9 and 3.5 mln lats, respectively (in 2005 – 2,8 un 2,4 mln lats).

Over the same period the value of construction work done by non-resident construction organisations in the Republic of Latvia has amounted to 3.4 mln lats.

Compared to 2005, the value of new construction (at constant prices) has increased by 22.2% or 106.8 mln lats. The value of repair and reconstruction rose by 7.1% or 36.0 mln lats, respectively.

There have been the following increases in the new construction and repair: 2.1 times for bridges, 1.2 times for administrative buildings and 1.4 times for industrial buildings and warehouses, streets and roads.

Over the same period there have been decreases of 22% in the construction of magisterial pipelines, communications and power lines and 11% in the construction of hotels and similar buildings.

In 2006, residential buildings with a total floor space of 812.6 thsd m2 were commissioned; of these 388.9thsd m2 were built on account of the resources of the population (in 2005, 552,2 and 324,7 thsd m2, respectively).

In 2006 many important buildings for the national economy were commissioned, for example, in Riga - the multi-functional entertainment and sports building “Arēna Rīga”, the new cheese making facility for “Rīgas Piena kombināts”, was extended hotel “Reval Hotel Latvija”; in Daugavpils reconstructed Vienibas elementary school, in Aizkraukle district Ltd ‘’ Nelss’’ Aikraukles sawmill and timber product warehouse and public store, in Riga district Ltd ‘’Knauf’’ new lime and cement factory and highway ‘’Via Baltica’’ section Adazi – Gauja, in Valmiera - a new curds production facility JSC ”Valmieras piens”.

Prepared by the Investment and Real Estate Statistics Section
Tel. 7366857
Arvīds Uibo