Calendar adjusted data at constant prices show that, compared to Q3 2022, in Q3 2023 construction output rose by 16.1 %. Construction output in construction of buildings increased by 33.2 %, in specialised construction activities by 16.6 %, and in civil engineering by 2.3 %.
"[The] Upturn in construction of buildings was facilitated by large projects and new agreements while in civil engineering and specialised construction activities [it was facilitated] by installation of solar panels and equipment thereof," said the CSB.
Construction output rose in all groups of specialised construction activities: in demolition and site preparation by 23.8 %, in electrical, plumbing and other construction installation activities by 18.2 %, in building completion and finishing (plastering, floor and wall covering, painting and glazing, etc.) by 15.4 % and in other specialised construction activities (roofing activities and other specialised construction activities not elsewhere classified) by 12.8 %.
The third quarter is usually a busy one in the Latvian construction sector as contractors race to finish works before the onset of winter, which generally sees activity slacken off.
However, compared to Q2 2023, in Q3 2023, construction output reduced by 2.5 % (seasonally adjusted data at constant prices). Construction of buildings fell by 1.5 %, specialised construction activities by 6.0 %, while civil engineering grew by 0.6 %.
In Q3 2023, 922 building permits were granted for construction, capital repairs, reconstruction and restoration of residential buildings with the total area of 228 thousand m2 (46 permits and 11 thousand m2 fewer than in Q3 2022).
During the period, 267 building permits were granted for construction, capital repairs, reconstruction and restoration of non-residential buildings with the total area of 239 thousand m2 (68 permits and 43 thousand m2 fewer than in Q3 2022), of which 196 permits were issued for construction of new non-residential buildings with intended area of 160 thousand m2.
In turn, 66 building permits were issued for construction, capital repairs, reconstruction and restoration of industrial buildings and warehouses with the total area of 104 thousand m2, of which 56 permits were granted for construction of new buildings with intended area of 90 thousand m2.
