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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 14:08

In May, construction costs in Latvia increased by 0.5%

Ļubova Ņemsadze , Statistics Latvia, 27.06.2018.Print version
Data of the Central Statistical Bureau (CSB) show that, compared to April, in May 2018 the level of construction costs in Latvia grew by 0.5%. Labour remuneration of workers increased by 1.7%, maintenance and operational costs of machinery and equipment – by 0.3%, but prices of building materials – by 0.2%.

In May, the average level of construction costs was mostly affected by an increase in labour remuneration to workers carrying out finishing works (roofers, plasterers, sanitary technicians and others), as well as to concrete workers and workers of related professions.


Compared to May 2017, construction costs rose by 4.1%. Labour remuneration of workers increased by 7.6%, prices of building materials – by 3.6%, but maintenance and operational costs of machinery and equipment – by 2.6%.




In 2018, 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 2017. The share of enterprises with the value of own account construction work exceeding EUR 1 million per year accounted for 80%, in 33% 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 Producer Prices section of the CSB database. Information on changes of construction costs in June 2018 will be published on 26 July. More information on construction cost indices in Latvia is available in the CSB website section Producer Prices – Key Indicators – Metadata.






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