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The total gross value of construction works performed by main contractors in the third quarter of 2010 increased by 15.7% in nominal terms over a year earlier to $28.7 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (December 13) by the Census and Statistics Department (C&SD).
After discounting the effect of price changes, the total gross value of construction works performed by main contractors increased by 12.2% in real terms over the same period.
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 the base period of 2000.
Analysed by type of construction works, the gross value of construction works performed at private sector sites totalled $7.4 billion in the third quarter of 2010, down by 11.9% in nominal terms compared with a year earlier. In real terms, it decreased by 16.7%. The decrease was mainly due to the completion of some large commercial building projects.
The gross value of construction works performed at public sector sites surged by 90.4% in nominal terms to $8.4 billion in the third quarter of 2010. In real terms, it increased 78.6%. The increase was mainly due to the intensification of some large transport projects.
The gross value of construction works performed by main contractors at locations other than construction sites amounted to $12.9 billion in the third quarter of 2010, up by 7.5% in nominal terms compared with a year earlier. In real terms, it also registered an increase of 7.5%. Construction works at locations other than construction sites included minor new construction activities as well as decoration, repair and maintenance for buildings; and electrical equipment installation and maintenance works at locations other than construction sites.
Analysed by end-use group, residential building projects accounted for the largest share in the total gross value of construction works performed at construction sites. The gross value of construction works performed for these projects amounted to $5.7 billion in the third quarter of 2010, up by 6.0% in nominal terms over a year earlier.
Transport projects constituted the second largest group of construction site works. The gross value of construction works performed for these projects totalled $4.0 billion in the third quarter of 2010, representing a strong growth by 431.6% in nominal terms over a year earlier.
On a seasonally adjusted quarter-to-quarter basis, the total gross value of construction works performed by main contractors increased by 5.3% in nominal terms or 3.1% in real terms in the third quarter of 2010 compared with the second quarter of 2010.
Table 1 shows the gross value of construction works performed by main contractors in the third quarter of 2010 and Table 2 shows the revised figures for the second quarter of 2010.
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. Nevertheless, sub-contractors' contribution should have been included in the gross value of construction works performed by main contractors for whom they worked.
The classification of construction establishments follows the Hong Kong Standard Industrial Classification (HSIC), which is used in various economic surveys for classifying economic units into different industry classes. Upon the implementation of the new HSIC Version 2.0 by the C&SD in October 2008, the Quarterly Survey of Construction Output has adopted the HSIC Version 2.0 in compiling the construction output statistics. However, the changeover does not have any significant effect on the classification for compiling the construction output statistics. The construction output statistics compiled based on the HSIC Version 2.0 as from the first quarter of 2009 are thus comparable with the data series prior to 2009.
More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 3rd Quarter 2010". 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/statistical_report/commerce_and_industry/index.jsp).
For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD (Telephone: 2805 6426 or email: building@censtatd.gov.hk).
Ends/Monday, December 13, 2010
Issued at HKT 16:39
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