Construction output up 15.4% in Q2 in Latvia

The latest Central Statistical Bureau calendar adjusted data at constant prices, published on August 9, show that, compared to Q2 2022, in Q2 2023 construction output rose by 15.4 %. 

Construction output in the construction of buildings increased by 21.7%, in specialized construction activities by 21.1%, and in civil engineering by 0.9%.

Construction output rose in all groups of specialized construction activities: in demolition and site preparation by 35.4 %, in other specialized construction activities (roofing activities and other specialized construction activities not elsewhere classified) by 28.5 %, in electrical, plumbing and other construction installation activities by 19.4 %, and in building completion and finishing (plastering, floor and wall covering, painting and glazing, etc.) by 16.9 %.

Construction output rise in civil engineering division was caused by an upturn in construction of utility projects (of 10.2 %) and construction of other civil engineering projects (water projects and civil engineering not elsewhere classified) (of 40.9 %). Construction of roads and railways witnessed a drop of 6.5 %, of which output in construction of roads and motorways reduced by 11.9 % and in construction of bridges and tunnels by 5.5 %.

Compared to H1 2022, in H1 2023 construction output increased by 16.1 % (according to calendar adjusted data at constant prices). In construction of buildings it rose by 23.2 %, in specialised construction activities by 17.5 %, and in civil engineering by 2.6 %.

Compared to Q1 2023, in Q2 2023 construction output reduced by 5.2 % (according to seasonally adjusted data at constant prices). In both construction of buildings and civil engineering it fell by 5.3 % while in specialized construction activities it increased by 1.8 %.

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In Q2 2023, 864 building permits were granted for construction, capital repairs, reconstruction and restoration of residential buildings with the total floor space of 245 thousand m2 (127 permits fewer but 5 thousand m2 more than in Q2 2022). Out of the number, 697 permits with the intended floor space of 199 thousand m2 were issued for construction of new buildings (123 permits fewer but 9 thousand m2 more than a year before) and 593 permits with intended floor space of 124 thousand m2 were granted for construction of one-dwelling buildings.

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