Growth in construction sector in first quarter of 2020 in Latvia

In the first quarter of 2020, compared to first quarter of 2019, construction output increased by 14.9% according to the Central Statistical Bureau (CSB).

Construction volume increased by 16.4% in buildings, 16% in engineering construction and 9.7% in specialized works. The growth was supported by favorable weather conditions allowing work to be carried out more quickly. 

The CSB reports that in Q1 2020, compared to Q4 2019, construction output increased by 11.5% on a seasonally adjusted basis at comparable prices, including 10.9% in buildings construction, 1.9% in engineering construction, 22% in specialized construction. 

In all 749 construction permits have been issued in Q1 of this year for the construction of residential buildings,  capital repairs, reconstruction and restoration of a total area of 222 thousand square meters.

Nonresidential building construction, capital repair, reconstruction and restoration have been granted 381 permits for a total area of 270 square meters. 

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Economy
Economy