Recorded growth in the value of completed construction works in the third quarter

A new report from the Republic Institute of Statistics indicates that the construction industry in Serbia continues to record growth in the value of completed works. In the third quarter of 2024, the value of completed construction works increased by 4.9% in current prices, while in constant prices an increase of 4% was recorded compared to the same period last year.

Illustration (Photo: Pexels)

Analyzing the data according to the type of buildings, a strong growth in the value of works on buildings is noticeable, where it was realized in constant prices an increase of 15.3%. In contrast, the value of works on other buildings, such as infrastructure projects, fell slightly by 1.1%.

The growth in the value of completed works varies between different regions in Serbia. The region of Southern and Eastern Serbia recorded the greatest growth of as much as 29.5%, while the Belgrade region achieved growth of 22.2%. In the Region of Šumadija and Western Serbia, a more moderate growth of 6.2% was recorded. On the other hand, the Region of Vojvodina is the only one to record a decrease in the value of construction works, by 21.4%.

98% of the total value of the construction works was carried out in Serbia, while the remaining 2% was carried out on construction sites abroad.

The data also show that the value of the works carried out by Serbian contractors in the country and abroad in current prices is recorded growth of 4.6% compared to the same period last year, while in constant prices the growth was estimated at 3.7%.