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In 2007, the total gross value of construction works performed by main contractors increased by 2.7% in nominal terms compared with 2006 to $92.7 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (March 13) by the Census and Statistics Department (C&SD).
After discounting price changes, the total gross value of construction works performed by main contractors increased by 0.4% in real terms between 2006 and 2007.
Gross value of construction works in real terms is derived by deflating the corresponding nominal value with an appropriate price index to the price level in 2000.
Analysed by type of construction works, the gross value of construction works performed at private sector sites totalled $28.8 billion in 2007, up by 15.7% in nominal terms as compared with 2006. In real terms, it increased by 11.5%. The increase was mainly associated with the progressive stepping up of works at some large commercial building sites.
The gross value of construction works performed at public sector sites amounted to $14.4 billion in 2007, down by 15.9% in nominal terms as compared with 2006. In real terms, it decreased by 16.4%. The decrease was mainly due to completion of works on some large transport projects.
On the other hand, the gross value of construction works performed by contractors at locations other than construction sites amounted to $49.5 billion in 2007, up by 2.7% in nominal terms over 2006. In real terms, there was a 0.4% increase. Construction works at locations other than construction sites include minor new construction activities and renovation works at erected buildings and structures; and electrical and mechanical fitting works at locations other than construction sites.
Analysed by end-use group, residential building projects accounted for the largest share in the gross value of construction works performed at construction sites in 2007. The gross value of construction works performed for these projects amounted to $15.8 billion, up by 1.7% in nominal terms as compared with 2006.
Commercial building projects constituted the second largest group of construction site works. The gross value of construction works performed for these projects totalled $10.9 billion in 2007, up by 58.5% in nominal terms as compared with 2006.
Comparing the fourth quarter of 2007 with the fourth quarter of 2006, the gross value of construction works performed by main contractors increased by 5.2% in nominal terms. In real terms, the increase was 2.5%.
Within this total, the gross value of construction works performed at private sector sites increased by 17.4% in nominal terms in the fourth quarter of 2007 from a year earlier, while that for public sector sites decreased by 24.1%. As for construction works performed by contractors at locations other than construction sites, the gross value increased by 9.4% over the same period.
In real terms, the gross value of construction works performed at private sector sites increased by 10.2% in the fourth quarter of 2007 from a year earlier, while that for public sector sites, decreased by 26.5%. On the other hand, the gross value of construction works performed by contractors at locations other than construction sites increased by 9.2% over the same period.
On a seasonally adjusted basis, the gross value of construction works performed by main contractors increased by 5.9% in nominal terms or 5.0% in real terms in the fourth quarter of 2007 compared with the third quarter of 2007.
Tables 1 and 2 show the gross value of construction works performed by main contractors in the fourth quarter and the whole year of 2007 respectively. Table 3 shows the revised figures for the third quarter of 2007.
Owing to the widespread sub-contracting practices in the construction industry, a construction establishment can be a main contractor for one contract and a sub-contractor for another contract at the same time. The gross value of construction works performed by main contractors covers only those projects in which the construction establishment takes the role of a main contractor, but not projects in which it takes only the role of a sub-contractor. However, sub-contractors' contribution to projects should have been included in the gross value of construction works performed by main contractors for whom they worked.
More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 4th Quarter 2007". Users can download this publication free of charge at the website of the Census and Statistics Department (C&SD) (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$25 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD¡¦s website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD at telephone no. 2805 6426 or email address building@censtatd.gov.hk.
Ends/Thursday, March 13, 2008
Issued at HKT 16:15
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