Construction shows stable growth

14.08.2014

The latest data compiled by the Central Statistical Bureau of Latvia show that, in the first half of 2014, construction output volume at current prices accounted for EUR 680.4 million, of which in the 2nd quarter - EUR 426.1 million, over the year increasing by 15.8%.

Construction output volume index
(2010 = 100)

Data source: Central Statistical Bureau of Latvia

Compared to the 1st quarter of 2014, construction output in the 2nd quarter of 2014 decreased by 2.0%, according to seasonally adjusted data at constant prices. Of which construction of buildings rose by 9.6%, while construction of civil engineering structures dropped by 7.9%.

Compared to the corresponding period of 2013, construction output in the 2nd quarter of 2014 grew by 15.8%, according to calendar adjusted data at constant prices. Construction of buildings rose by 50.4%; of which construction of residential buildings - by 67.3% (14.5% of total construction volume), and construction and repair of educational buildings grew 2.3 times (7.5% of total construction volume).  Construction of civil engineering structures, as compared to the 2nd quarter of the previous year, dropped by 8.8%, which was affected by a significant construction output volume drop in construction of streets and roads - of 2.4% (19.3% of total construction volume), in construction of main pipelines, communication and power lines - of 20.4% (5.4% of total construction volume), as well as in construction of harbours - of 64.5% (2.2% of total construction volume). At the same time construction of local pipelines and cables increased by 14.8% (4.9% of total construction volume).

Compared to the 1st half of the previous year, construction volume in the first six months of this year grew by 18.9%, according to calendar adjusted data at constant prices. Of which construction of buildings increased by 43.2%, while construction of civil engineering declined by 2.8%.

Construction output volume and changes

 

Total (at current prices mln EUR)

1st half of 2014 compared to 1st half of 2013, % (constant prices, calendar adjusted)

2nd quarter of 2014 compared to

1st half of 2014 

2nd quarter of 2014

1st quarter of 2014, % (seasonally adjusted data at constant prices)

2nd quarter of 2013, % (calendar adjusted data at constant prices)

Total

680.4

426.1

18.9

-2.0

15.8

of which:

 

 

 

 

 

Residential buildings

 

103.9

 

61.2

 

57.4

 

10.7

67.3

Hotels and similar buildings

20.7

12.3

138.1

18.6

197.2

Office buildings

49.2

 

30.1

40.3

-1.0

18.0

Wholesale and retail trade buildings

21.2

 

10.9

31.6

21.9

58.7

Industrial buildings and warehouses

44.0

 

25.6

19.5

9.1

30.4

School, university and research buildings

46.5

13.6

 

70.3

122.3

132.7

Hospital or institutional care buildings

21.4

12.5

38.6

22.6

69.8

Highways, streets, roads, airfield runways, railways

97.5

82.1

-2.7

6.5

-2.4

Bridges and tunnels

15.6

10.4

-12.2

10.9

-7.8

Harbours and dams

24.1

9.3

-37.3

-51.9

-64.5

Main pipelines, communication and electricity lines

42.5

23.1

-8.9

-25.3

-20.4

Local pipelines and cables

34.2

20.9

17.3

-10.2

14.8

During the 2nd quarter of 2014, 613 building permits were granted for construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space of 128.2 thousand m2. Compared to the corresponding period of the previous year, it is 56 building permits less, and the intended total floor space has decreased by 10.7%. 418 building permits were issued for the construction of new single dwelling buildings with the total floor space 92.5 thousand m2, which is 7.4% of intended floor space and 16 permits less than last year.

In turn, 89 building permits were granted for construction of industrial buildings and warehouses with the total floor space of 117.7 thousand m2. As compared to the 2nd quarter of the previous year, it is 35 building permits less for the total floor space smaller by 40.9%. 53 permits were granted for the construction of new industrial buildings and warehouses with the total floor space of 65.9 thousand m2 – 15 permits and 18.7% of intended floor space less than in the 2nd quarter of 2013. 

 

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
Tel. +371 67366857