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Construction output in Latvia up 25% in Q3 2017

Compared to the corresponding period of 2016, construction output in Latvia has increased by 25 % in Q3 2017. Construction output at current prices amounted to 580.8 million euros.

Compared to Q3 the previous year, significant construction output increase was recorded in construction of civil engineering works (of 39.6 % and comprising 50.9 % of the total construction output) and construction of non-residential buildings (of 25.2 % and comprising 38.8 % of the total construction), while construction of residential buildings fell by 18 %, according to data from the Central Statistical Bureau of Latvia.
 

Within the construction of civil engineering works, construction of harbours, waterways, dams and other waterworks grew twice; notable increase was observed also in construction of long-distance pipelines, communication and electricity lines (of 67.7 %) and construction of highways, streets and roads, airfield runways, and railways (of 28.2 %).
 

Within the construction of non-residential buildings, significant rise was registered in construction of wholesale and retail trade buildings (of 90 %), construction of office buildings (60.6 %), construction of school, university and research buildings (44.1 %), as well as construction of industrial buildings and warehouses (23.6 %).
 

In Q3 2017, 901 building permits were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space of 179.7 thousand m2, of which 699 permits were issued for construction of new buildings with the intended floor space of 135.9 thousand m2 (297 permits more than in Q3 2016).
 

In its turn, 81 building permits (2 times more than in the corresponding quarter of the previous year) were granted for construction of industrial buildings and warehouses with the total intended floor space of 169 thousand m2, of which 48 building permits were issued for new construction with the intended floor space of 72.9 thousand m2.

BNN

13-11-2017
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