Construction output up 9.9% in 2010

The total gross value of construction works main contractors performed last year increased 9.9 per cent from 2009 to $110.9 billion.

This was reported by the Census & Statistics Department who added that after discounting the effect of price changes, the total gross value grew 6.8 per cenrt in real terms.

Residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites. The gross value of construction works performed in respect of these projects amounted to $22.4 billion, down 1.9 per cent in nominal terms.

Transport projects constituted the second largest group of construction site works, totalling $10.8 billion, representing growth of 199.3% in nominal terms.

The total gross value of construction works main contractors performed in the fourth quarter increased 13.6 per cent in nominal terms over a year earlier to $29.2 billion. After discounting the effect of price changes, the total gross value of construction works performed by main contractors grew 10.8 per cent in real terms.