Construction witnesses 3.4% decrease in the 2nd quarter of 2015

13.08.2015

The latest data compiled by the CentralStatistical Bureau of Latvia (CSB) show that in the 2nd quarter of 2015 as compared to the corresponding period of 2014 construction production volume according to calendar adjusted data at constant prices decreased by 3.4%. Construction production volume at current prices accounted for EUR 405.1 mln.

In the 2nd quarter of 2015 as compared to the 2nd quarter 2014 construction volume of buildings declined by 11.9%, of which construction of residential buildings decreased by 16.7%, and construction on non-residential buildings - by 10.2%. Decrease was recorded in construction of office buildings (of 38.7%), hotels and similar buildings (38.8%), as well as in construction of traffic and communications buildings (20.1%). In turn, growth was registered in construction of two apartment buildings (of 20.6%), as well as of wholesale and retail trade buildings (of 10.5%).

In the 2nd quarter of 2015 as compared to the corresponding quarter of the previous year, construction of civil engineering structures which accounted for 50% of all construction (EUR 202.4 mln), grew by 6.9%. Of which construction of harbours, waterways, dams and other water works increased by 63.4%, construction of highways, streets, roads, airfield runways, railways - by 12.5%. In turn, decrease was registered in construction of main pipelines, communications and power transmission lines (of 11.5%), as well as in construction of bridges and tunnels (of 8.4%).

Construction Production Volume Index
(2010=100)

Data source: Central Statistical Bureau of Latvia

Construction volume and changes

 

Total (at current prices, mln EUR)

1st half of 2015 compared to 1st half of 2014, %
(constant prices, calendar adjusted)

2nd quarter of 2015,

compared to

1st half of 2015 

2nd quarter of 2015

1st quarter of 2015, %
(seasonally adjusted data at constant prices)

2nd quarter of 2014, %
(calendar adjusted data at constant prices)

Total

657.6

405.1

-2.3

-3.0

-3.4

of which:

 

 

 

  

Residential buildings, total

96.4

50.5

-6.8

-11.2

-16.7

Hotels and similar buildings

14.3

7.5

-31.1

-14.1

-38.8

Office buildings

35.0

18.6

-29.4

-23.8

-38.7

Wholesale and retail trade buildings

19.5

12.1

-8.7

57.2

10.5

Production buildings and warehouses

47.1

24.9

6.2

-7.5

-3.4

School, university and research buildings

46.6

30.7

-0.5

34.6

-4.6

Hospital or institutional care buildings

19.2

13.0

-11.0

24.0

-5.7

Highways, streets, roads, airfield runways, railways

108.3

89.1

14.8

0.2

12.5

Bridges and tunnels

13.3

9.2

-12.3

13.8

-8.4

Harbours and dams

23.6

14.7

0.9

-0.9

63.4

Main pipelines, communications and power transmission lines

34.8

19.7

-15.9

-9.3

-11.5

Local pipelines and cables

31.2

20.4

-6.0

4.8

1.6

In the 2nd quarter of 2015, 576 building permits1 were granted for construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space of 120.2 thsd m². Compared to the 2nd quarter of 2014 it is 37 building permits less, and the intended total floor space has decreased by 6.2%. In the 2nd quarter of 2015, 406 building permits were granted for construction of new buildings with the intended floor space of 87.1 thsd m2.

60 building permits for the total intended floor space of 75.3 thsd m2 have been granted for construction of industrial buildings and warehouses, and compared to the 2nd quarter of 2014 it is 29 building permits less, and the intended floor space has decreased by 36.0%.

In the 2nd quarter of 2015, 31 building permits have been granted for construction of new industrial buildings and warehouses with the total intended floor space of 41.9 thsd m2, which is 22 building permits less than in the corresponding period of the previous year. 

720 apartments were commissioned in the 2nd quarter of 2015, which is an increase of 78.2% as compared to the 2nd quarter of 2014.

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

Since the 4th quarter of 2014 in construction statistics the term granted permits means a record in the construction permit confirming that preconditions for commencement of construction works have been met.

 

More information:
Industrial and Construction Statistics Section
Līga Pranča
Tel.  +371 67366953