Value of construction works up 4%

The total gross value of construction works by main contractors in the second quarter of this year increased 4% in over the same period last year, to $29.4 billion.

This was announced by the Census & Statistics Department.
 
After discounting the effect of price changes, the total gross value of main contractors’ construction works fell 1.9% in real terms over the same period.
 
The gross value of construction works at private-sector sites totalled $8.5 billion, down 8.6% in nominal terms compared with a year earlier. In real terms, it fell 17.4%.
 
On the other hand, the gross value of construction works performed at public-sector sites increased 33% in nominal terms to $9.2 billion. In real terms, it increased 29.9%.
 
The gross value of construction works main contractors performed at locations other than construction sites amounted to $11.7 billion, down 3.1% in nominal terms compared with a year earlier. In real terms, it fell 7%. Construction works at locations other than construction sites included minor new construction activities and decoration, building repair and maintenance works, and electrical equipment installation and maintenance works at non-construction site locations.
 
Residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites in Q2. Their gross value amounted to $6.4 billion, down 0.7% in nominal terms compared with a year earlier.
 
Transport projects constituted the second largest group of construction-site works. Their gross value totalled $3.8 billion, up 72.2% in nominal terms over a year earlier.
 
On a seasonally adjusted quarter-to-quarter basis, the gross value of construction works main contractors performed fell 6% in nominal terms and 4% in real terms in Q2 compared with Q1.