Compared to the corresponding period of 2016, construction output in Latvia increased by 8.4% in Q1 2017. Construction production output at current prices amounted to 222 million euros.
Construction output growth was recorded in all types of construction: 18.9% in construction of residential buildings, 7.2% in construction of non-residential buildings and 4.1% in construction of civil engineering works, according to data from the Central Statistical Bureau of Latvia.
Increase in the construction of residential buildings was recorded in the construction of both two-dwelling buildings and three- and more dwelling buildings – of 29% and 25.4% respectively.
Within the non-residential buildings group, the sharpest construction output rise was observed in construction of wholesale and retail trade buildings – 1.4-fold. Construction of industrial buildings and warehouses grew by 20.4%, whereas construction of hotels and similar buildings fell by 32.6%.
The rise in construction of civil engineering works was influenced by the increase in construction of harbors, waterways, dams and other waterworks (by 48.4%) and construction of long-distance pipelines, communication and electricity lines (by 10.1%). Construction output reduction, in turn, was registered in construction of streets and roads, airfield runways, and railways – by 24%.
In Q1 506 building permits were granted for the construction, capital repairs, reconstruction and restoration of single dwelling buildings with the total floor space 108.7 thousand square meters, of which 374 permits were issued for construction of new buildings with the intended floor space of 76.3 thousand square meters.
In turn, 39 building permits were granted for construction of industrial buildings and warehouses with total intended floor space of 53.4 thousand square meters, of which 22 building permits with 26.4 thousand square meters of intended floor space were issued for new construction. (BNN/Business World Magazine)