International Internet Magazine. Baltic States news & analytics
Friday, 13.12.2013, 19:54
Decline of Estonian construction market becomes deeper
The production value of construction enterprises amounted to 5 billion kroons in the fist quarter – of which production value of construction of buildings amounted to 3.2 billion kroons and production of civil engineering totalled 1.8 billion kroons.
In comparison to the same period of time in 2008, the volume of construction of buildings decreased by 42% at constant prices while the volume of civil engineering stayed on the same level.
The decline was mostly caused by the falling volumes of construction of dwellings on the domestic construction market.
Contrary to the domestic construction market, which is in the phase of decline, the volume of construction works in foreign countries increased by 6% in the year-on-year comparison? The growth took place in the segment of construction of buildings abroad.