Construction sector output down in third quarter

The latest data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to the 3rd quarter of 2021, in the 3rd quarter of 2022 construction output reduced by 13.6 % (according to calendar adjusted data at constant prices). 

A decline was observed in construction of buildings (of 14.2 %), specialised construction activities (13.3 %) and civil engineering (12.2 %).

Construction output reduced also in all groups of specialised construction activities: in building completion and finishing (plastering, floor and wall covering, painting and glazing, etc.) by 30.7 %, in demolition and site preparation by 23.4 %, in electrical, plumbing and other construction installation activities by 5.6 %, and in other specialised construction activities (roofing activities and other specialised construction activities not elsewhere classified) by 5.9 %.

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In the first nine months of 2022, compared to the same period of 2021, construction output fell by 12.5 % (according to calendar adjusted data at constant prices). In civil engineering it dropped by 14.3 %, in specialised construction activities by 12.6 %, and in construction of buildings by 10.7 %.

In the 3rd quarter of 2022, compared to the 2nd quarter of 2022, construction output reduced 3.3 % (according to seasonally adjusted data at constant prices). In construction of buildings it declined by 11.3 %, in civil engineering by 1.9 %, and in specialised construction activities by 2 %.

In the 3rd quarter of 2022, 968 building permits were granted for construction, capital repairs, reconstruction and restoration of residential buildings with a total floor space of 238 thousand m2 (50 permits more and 19 thousand m2 fewer than in the 3rd quarter of 2021).

During the period, 335 building permits were granted for construction, capital repairs, reconstruction and restoration of non-residential buildings with a total floor space of 281 thousand m2 (99 permits and 648 thousand m2 fewer than in the 3rd quarter of 2021).

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