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