Value of construction works in 3Q 2018 higher by 12%

(Illustration) The value of the construction works carried out in the third quarter of 2018 is higher by 12%, and the value of the contracted works is higher by 11.5% compared to the same period last year, the Ministry of Construction, Transport and Infrastructure announced.

Citing the data from the Statistical Office of the Republic of Serbia, the ministry estimated that the growth in construction had been carried by infrastructure, where the value of the works remains above average for this sector.

According to the data published by the Statistical Office of the Republic of Serbia, the value of construction works expressed in current prices continued to grow and is 15.6% higher compared to the previous quarter of the current year.

The growth realized in the third quarter in 2018 is even greater when compared to the quarterly average in 2017, with the value of the works expressed in constant prices higher by 26.9%, and of contracted works by 36.6%, the press release adds.

The construction sector thereby remains the driving engine of the GDP growth, the ministry notes and adds that, in the third quarter of 2018, GDP growth amounted to 3.7% compared to the same period last year.

Ministarstvo građevinarstva, saobraćaja i infrastrukture Republike Srbije

Republički zavod za statistiku

value of construction works

infrastructure

GDP of Serbia

GDP growth