Construction Sector Grows 26 Percent on Year in Q3
29 November (BNS)
The total output of Estonian construction companies at home and abroad grew by 26% in the third quarter compared to the same period a year ago, data of the national statistics office show.On the domestic market, construction volumes increased by 28% in annual comparison.
The production value of construction enterprises amounted to 527 million euros, of which the production value of building construction was 296 million euros and the production value of civil engineering 231 million euros. Compared to the same quarter of 2010, the volume of building construction grew by 36% and the volume of civil engineering by 15%. The volume of the construction market in real terms is comparable with the year 2005.
The growth in construction volumes is mainly due to the recovery of domestic building construction, Statistics Estonia said. As the share of new building construction continues to decline, the growth in building construction is caused mainly by repair and renovation work with the help of renovation support in order to increase energy efficiency.
Construction volumes of Estonian enterprises in foreign countries increased by 4% year-on-year mainly on account of civil engineering. Construction volume abroad accounted in the third quarter for 9% of the total volume of construction.
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