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International Internet Magazine. Baltic States news & analytics
Tuesday, 23.04.2024, 11:06
In June, construction costs in Latvia grew by 0.2%
Compared to June 2016,
construction costs increased by 2.0%. Labour remuneration of workers grew by
3.9%, prices of building materials increased by 1.9%, while maintenance and
operational costs of machinery and equipment rose by 0.8%.
In June, the average level of
construction costs was mostly affected by an increase in the labour
remuneration of assemblers, as well as growth in the prices of dolomite chips.
In the 2nd quarter of 2017, as
compared to the 1st quarter, the overall level of construction costs increased
by 1.3%. Labour remuneration of workers grew by 3.6%, maintenance and
operational costs of machinery and equipment rose by 0.9%, whereas prices of building
materials increased by 0.7%.
In the 2nd quarter of 2017, as
compared to the 2nd quarter of 2016, the overall level of construction costs
grew by 2.0%. Labour remuneration of workers rose by 4.5%, prices of building
materials increased by 1.8%, whereas maintenance and operational costs of
machinery and equipment grew by 0.7%.
In 2017, data on prices of
construction resources are provided by approximately 190 construction
enterprises and more than 40 trade enterprises. When calculating the Construction
Cost Index, prices of building materials submitted by enterprises for the
calculation of producer price indices in industry and import price index are
also used.
The sample includes
construction enterprises with the highest value of own account construction
works in 2016. The share of enterprises with the value of own account
construction work exceeding EUR 1 million per year accounted for 72%,
in 26% of which the value of own account construction work exceeded
EUR 5 million per year. The criterion for the sample of trade
enterprises is their turnover and specialisation.
More information on
construction costs is available on the Producer Prices section of the CSB database. Data on changes of construction costs in
July 2017 will be published on 25 August.
1Hourly gross labour remuneration of workers employed in construction broken
down by main professions:
- bricklayers and workers of related
professions;
- concrete workers and workers of related
professions;
- carpenters and builders;
- workers carrying out finishing works
(roofers, plasterers, sanitary technicians and others);
- painters and workers of related
professions;
- electricians;
- asphalt layers;
- auxiliary workers of road building and
construction of artificial structures;
- assemblers;
- welders.