Value of civil works declines

foto: Monstat

Podgorica, (MINA-BUSINESS) – In the third quarter, the value of construction works decreased by 9.6 percent compared with the previous quarter, says Monstat.

“The value of construction works delivered in the this year’s third quarter increased by 16.7 percent year-on-year,” Monstat says in a press release.

In this period, the number of effective hours spent on construction sites decreased by 5.8 percent compared with the previous quarter, while increasing by 5.2 percent year-on-year.

The survey includes the construction companies with five or more employees, as well as the units of the non-construction companies, which are involved in the civil engineering activities.

“The quarterly survey of civil engineering activities is based on a sample including all large and medium-sized enterprises, while small companies are selected on the basis of a random sample,” says Monstat.

The value of civil works included the cost of material, labour and demolition, preparation of terrain, installation, general expenses and profit. It does not include the costs related to the procurement of land, designing, supervision and value added tax.


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