Analytics, Construction, Good for Business, Latvia

Construction volume index (2010 = 100)

Compared to the 2^nd quarter, construction volume in the 3^rd quarter of this year has increased by 5.6%, according to seasonally adjusted data at constant prices. Of which construction of buildings has dropped by 2.2%, while construction of civil engineering structures has grown by 7.5%.

Compared to the 3^rd quarter of 2012, construction volume in the 3^rd quarter of 2013 has increased by 11.6%, according to calendar adjusted data at constant prices. Construction of buildings has reduced by 2.5%, of which construction of hospital or institutional care buildings – by 50.9%, of educational buildings – by 13.4%, and of industrial buildings and warehouses – by 7.4%. Total decrease in the construction of buildings was not compensated even by the rise in construction of residential buildings and office buildings, of 82.5% and 78.6%, respectively. As compared to the 3^rd quarter of the previous year, construction of civil engineering structures has grown by 20.6%; this rise was mainly influenced by the notable increase in construction of bridges and tunnels (of 99.1%) as well as in construction of harbours (2.3 times).

In comparison with the nine months of 2012, construction volume in nine months of 2013 (according to calendar adjusted data at constant prices) has grown by 8.5%, of which construction of buildings has increased by 4.9% and construction of civil engineering structures – by 11.3%.

Construction volume and changes thereof

* Data were recalculated into euro basing on the fixed exchange rate 1 EUR = LVL 0.702804.

During the 3^rd quarter, 677 building permits were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with total floor space 140.4 thousand m². Compared to the corresponding period of the previous year, the number comprises 125 building permits more, and intended total floor space has widened by 16.9%. 478 building permits were issued for the constriction of new single dwelling buildings with total floor space 103.5 thousand m² – 35.4% of total floor space and 145 permits more. 

Whereas 142 building permits were granted for the construction of industrial buildings and warehouses with total floor space 206.3 thousand m². In comparison with the 3^rd quarter of 2012, 33 building permits more were issued, while for 6.5% total floor space less. As compared to the 3^rd quarter of 2012, 77 permits were granted for the construction of new industrial buildings and warehouses with total floor space 148.8 thousand m² – 19 permits more and 2.7 times wider intended floor space. 

More information on construction volume indices and building permits is available in the CSB database.