Analytics, Construction, Latvia, Statistics

In August the average level of construction costs was mostly affected by price decrease of road construction materials (asphalt concrete and dolomite breakstone had major impact).

Compared to August 2017, construction costs rose by 4.5%. Labour remuneration of workers increased by 8.9%, prices of building materials – by 3.6%, but maintenance and operational costs of machinery and equipment – by 3.1%.

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 mln per year accounted for 80%, in 33% of which the value of own account construction work exceeded EUR 5 mln per year. The criterion for the sample of trade enterprises is their turnover and specialisation.