First quarter saw boom in Latvia's construction sector

The latest data compiled by the Central Statistical Bureau (CSB) show that, compared to the 1st quarter of 2017, in the 1st quarter of 2018 construction output increased by an impressive 35.7 % (according to calendar adjusted data at constant prices). 

A construction output rise was observed in construction of buildings (of 44.2 %), civil engineering (43.6 %) and specialized construction activities (16.3 %).

Compared to the corresponding quarter of the year before, output growth was recorded in all types of civil engineering: construction of roads and railways (of 55.5 %), construction of utility projects (60.5 %), as well as construction of other civil engineering projects (7.9 %).

Compared to the 4th quarter of 2017, in the 1st quarter of 2018 construction output grew by 15.2 %.

In the 1st quarter of 2018, 551 building permits were granted for residential buildings while 234 building permits were granted for the construction of non-residential buildings.

In its turn, 46 building permits were granted for construction of industrial buildings and warehouses with the total intended floor space of 55.1 thousand m2.

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