Statistics: Construction volumes fell 3 percent in Q3 2022
The total production value of Estonian construction enterprises in Estonia and abroad combined fell by 3 percent at constant prices, on year to the third quarter of 2022 (Q3 2022), state agency Statistics Estonia says.
Taking the domestic market alone, construction volume fell by 4 percent on year to Q3 2022, the agency says.
Statistics Estonia leading analyst Merike Sinisaar said: "The domestic construction market was primarily influenced by the decreased volume of building construction."
"There were fewer building repair and reconstruction works. The volume of new building construction remained at last year's level. The increased volume of civil engineering was mainly due to repair and reconstruction works, as the volume of new civil engineering decreased," Sinisaar went on.
The construction market continues to be affected by rapidly rising construction costs, Sinisaar added.
The combined production value of Estonian construction enterprises totalled €1.2 billion in Q3 2022.
Building construction accounted for €760 million and civil engineering for €429 million.
Compared with the Q3 2021, the volume of building construction fell by 9 percent, while the volume of civil engineering works (roads, bridges, port facilities, pipelines, communication and electricity lines, sports fields, etc.) rose by 9 percent, over the same period.
As for outside Estonia, the construction volume, which accounts for 5 percent of the total (up from 4 percent a year ago), rose by a fifth on year to Q3 2022, with a rise in both building construction and civil engineering works being observed.
The Register of Construction Works says that1,632 dwellings were completed in Q3 2022,a fall of 6 percent on year.
Over a third of the completed dwellings lay in the rural municipalities in the vicinity of Tallinn, ie. the capital's commuter belt, followed by the city itself, and also Tartu city.
Demand for new dwellings has declined, Statistics Estonia says. Building permits were granted for the construction of 1,521 dwellings in Q3 2022, a 40 percent fall on year.
236 non-residential buildings were completed, with a useful floor area of 347,400 square meters – primarily new commercial, educational and storage premises. Year on year, there was an increase in both the useful floor area and the volume of completed non-residential buildings.
Statistics Estonia collects compiles the above data on behalf of the Ministry of Economic Affairs and Communications.
More detailed information is here, and here.
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Editor: Andrew Whyte