Construction gross value up 13.2% to $32.4b

Guess by how much the gross values of the private and public sectors increased in 3Q11?

According to a release, the total gross value of construction works performed by main contractors in the third quarter of 2011 increased by 13.2% in nominal terms over a year earlier to $32.4 billion, the Census & Statistics Department said.

After discounting the effect of price changes, the total gross value of construction works performed by main contractors increased by 5.4% in real terms over the same period.

The gross value of construction works performed at private sector sites totalled $9.1 billion in the third quarter, up by 23.5% in nominal terms compared with a year earlier. In real terms, it increased by 19%.

At public sector sites, it increased by 22.5% in nominal terms to $10.6 billion in the third quarter. In real terms, it increased by 15.2%.

Residential building projects and transport projects accounted for the first and second largest share in the total gross value of construction works performed at construction sites in the third quarter.