Analytics, Construction, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Saturday, 27.04.2024, 05:43
Construction costs increased by 0.4% in Latvia
In June, the average level of construction costs was mostly affected by
an increase in labour remuneration to concrete workers and workers of related
professions, as well as to workers carrying out finishing works (roofers,
plasterers, sanitary technicians and others).
Compared to June 2017, construction costs rose by 4.3%. Labour
remuneration of workers increased by 7.8%, prices of building materials – by
3.9%, but maintenance and operational costs of machinery and equipment – by 2.6%.
In the 2nd quarter of 2018, as compared to the 1st quarter, the
overall level of construction costs increased by 1.7%. Labour
remuneration of workers grew by 2.9%, prices of building materials – by 1.7%, but
maintenance and operational costs of machinery and equipment – by 1.0%.
In the 2nd quarter of 2018, as compared to the 2nd quarter of
2017, the overall level of construction costs increased by 4.1%. Labour
remuneration of workers grew by 7.2%, prices of building materials - by 3.7%,
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.