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Wednesday, 24.04.2024, 04:31
Construction costs in November grew by 0.4% in Latvia
Compared to November 2016,
construction costs rose by 3.2%. Labour remuneration of workers increased by
5.9%, prices of building materials by 2.9%, but maintenance and operational
costs of machinery and equipment by 2.0%.
In November, the average level
of construction costs was mostly affected by price increase of asphalt
concrete, as well as rise in the labour remuneration of concrete workers and
workers of related professions, as well as assemblers.
Construction cost indices (2010=100, as per cent)
In 2017, the 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, the 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 in the CSB database section Producer prices. Press release on changes of construction costs in December 2017 will be
published on 26 January 2018.
More information on
construction cost indices in Latvia is available in the CSB website
section Key Indicators –
Producer Prices – Metadata.
1 Hourly 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.