Press Release

Construction output in Latvia in the nine months of 2005

The value of construction output in the nine months of 2006 reached 762.7 million lats, an increase of 16.0% (at constant prices) in comparison with the nine months of 2005. The value of construction output in the third quarter this year was 363.0 million lats, up by 12.2% on the third quarter of the previous year.

In the nine months this year the value of own account construction work done outside the Republic of Latvia was 4.8 million lats (5.1 million lats in the nine months of 2005). The bulk of construction work was actually done in the countries of the European Union and the CIS countries, 2.7 and 2.0 million lats, respectively (2.6 and 1.8 million lats in the nine months of 2005).

In the same period the value of construction work done by non-resident construction organisations in the Republic of Latvia was 2.8 million lats.

Compared to the nine months of 2005, the value of new construction (at constant prices) has increased by 19.1% or 62.0 million lats. The value of repair and reconstruction rose by 13.0% or 43.4 million lats, respectively.

There have been the following increases in the new construction and repair: 1.9 times in the construction of bridges, 1.4 times for education buildings and 1.3 times for industrial buildings and warehouses.

Over the same period there have been decreases of 20% in the construction of pipelines, communications and power lines and 12% in the construction of retail trade and wholesale buildings.

In the nine months of 2006, residential buildings with a total floor space of 559.8 thsd m2 were commissioned; of these 265.4 thsd m2 were built on own account of the population (in the nine months of 2005, 368.0 and 212.1 thsd m2, respectively).

In the nine months of 2006 many important buildings for the national economy were commissioned, for example, in Riga - the multi-functional entertainment and sports building “Arēna Rīga”, a new cheese making facility for “Rīgas piena kombināts”, the extended hotel Reval Hotel Latvia; in Liepāja - a new reinforced concrete factory for the "MB Betons" group; in Daugavpils – the reconstructed primary school “Vienība”; in the district of Aizkraukle – a timber yard and customs warehouse for the Aizkraukle sawmill “Nelss Ltd”; in the district of Riga – a new lime and cement factory for the JSC “Knauf”; in Valmiera - a new curds production facility for the JSC “Valmieras piens” and a public bathhouse.

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

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