Press Release

On Construction in Latvia in 3rd quarter of 2008

Compared to the 3rd quarter of 2007 construction in Latvia in the 3rd quarter of 2008 decreased by 7.3% (at constant prices), according to the Central Statistical Bureau. Of which volume of new construction reduced by 7.7%, repairs and reconstruction – by 6.9%.

Construction and repair of residential buildings diminished by 33.4% and construction of hotels and similar buildings - by 55.0%. But volume of construction of motorways and streets grew by 18.9%, construction of main pipelines, communication and power lines – by 18.3%, of administrative buildings – by 3.8%, but construction of industrial buildings and warehouses – by 3.5%.

Bearing in mind the seasonal character of the construction industry, compared to the 2nd quarter of 2008 construction in the 3rd quarter of 2008 grew by 13.9% (at constant prices). This rise was mainly influenced by the increase of repairs and reconstruction (by 31.2%). Compared to the previous period volume of new construction in the 3rd quarter grew by 1.5%. It should be noted that, in the 3rd quarter a number of construction objects significant for the national economy were commissioned. Some of those were a/s ‘’Grindex’’ pharmaceutical product production building, SIA "Cemex" first device of the concrete terminal, a/s "Preses nams" book production building, hotel "Elephant Hotel", multifunctional sports hall in Ludza, etc.

Volume and changes of construction production in 3rd quarter of 2008

Total (current prices, thsdLVL)

% (constant prices, seasonally adjusted data) over 3rd quarter 2007

Total

536623

-7.3

   Of which:

 

 

Residential buildings

68312

-33.4

Hotels and similar buildings

4400

-55.0

Office buildings

70566

3.8

Wholesale and retail trade buildings

25865

-9.0

Production buildings and warehouses

43520

3.5

Schools, universities and research institutions

20928

-4.9

Health care and social care buildings

9284

-26.1

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

126160

18.9

Bridges and tunnels

23236

-12.8

Ports and dams

8801

-20.0

Main pipelines, communication and power lines

30373

18.3

Local pipelines and cable lines

15884

-4.3

Compared to the corresponding period of previous year in nine months of 2008 construction volume decreased by 0.1% (at constant prices). Of which volume of new construction increased by 2.8%, but repairs and reconstruction decreased by 3.7%.

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. 67366857
Arvīds Uibo

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