Latvia's 2022 construction output fell by 11%

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The latest data published on February 9 by the Central Statistical Bureau of Latvia show that, compared to 2021, in 2022 construction output reduced by 11.3 % (according to calendar-adjusted data at constant prices).

 Construction output decline in civil engineering constituted 13.1 %, in specialized construction activities 11.3 %, and in construction of buildings 9.8 %.

Compared to the fourth quarter of 2021, in the fourth quarter of 2022 construction output fell by 8.3 % (according to calendar-adjusted data at constant prices). Output decline was observed in civil engineering (9.8 %), specialized construction activities (8.1 %) and in construction of buildings (7.7 %).

Compared to the third quarter of 2022, in the fourth quarter of 2022 construction output did not change (according to seasonally adjusted data at constant prices). Output in construction of buildings grew by 8.3%, while in civil engineering and specialized construction activities fell by 4.3 % and 0.7 %, respectively.

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In 2022, 3376 building permits were granted for the construction, capital repairs, reconstruction and restoration of residential buildings with the total floor space of 917 thousand m2, of which 2754 permits with the intended floor space of 702 thousand m2 were issued for construction of new buildings. Out of the total number, 2185 permits were granted for the construction of new one-dwelling buildings (with the intended floor space of 438 thousand m2).

In the 4th quarter of 2022, 701 building permits were granted for the construction, capital repairs, reconstruction and restoration of residential buildings with the total floor space of 196 thousand m2 (581 permits with the intended floor space of 144 thousand m2 were issued for the construction of new buildings). Out of the total number, 471 permits were granted for the construction of new one-dwelling buildings (with the intended floor space of 98 thousand m2).

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