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The total gross value of construction works performed by main contractors in the fourth quarter of 2009 decreased by 1.5% in nominal terms over a year earlier to $25.9 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (March 12) 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 decreased by 6.2% 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 decreased by 11.5% in nominal terms in the fourth quarter of 2009 from a year earlier, while that at public sector sites surged by 31.1%. The gross value of construction works at locations other than construction sites decreased by 4.6% in nominal terms over the same period. Construction works at locations other than construction sites included minor new construction activities and decoration, repair and maintenance for buildings; and electrical equipment installation and maintenance works at locations other than construction sites.
In real terms, the gross value of construction works performed at private sector sites decreased by 17.9% in the fourth quarter of 2009 from a year earlier. For public sector sites, a remarkable increase of 30.5% was recorded. The gross value of construction works at locations other than construction sites decreased by 9.0% over the same period.
On a seasonally adjusted quarter-to-quarter basis, the total gross value of construction works performed by main contractors decreased by 0.5% in nominal terms or 3.4% in real terms in the fourth quarter of 2009 compared with the third quarter of 2009.
For 2009 as a whole, the total gross value of construction works performed by main contractors increased by 1.5% in nominal terms compared with 2008 to $101.1 billion.
After discounting the effect of price changes, the total gross value of construction works performed by main contractors decreased by 3.4% in real terms in 2009.
Analysed by type of construction works, the gross value of construction works performed at private sector sites totalled $34.3 billion in 2009, up by 2.4% in nominal terms as compared with 2008. The increase was mainly associated with residential building projects and service building projects. In real terms, it decreased by 6.0%.
The gross value of construction works performed at public sector sites amounted to $18.4 billion in 2009, up by 20.2% in nominal terms as compared with 2008. In real terms, it increased by 15.3%. The increase was evenly spread across the construction of buildings and that of structures and facilities.
The gross value of construction works performed by main contractors at locations other than construction sites amounted to $48.4 billion in 2009, down by 4.7% in nominal terms over 2008. In real terms, it decreased by 7.1%.
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 in 2009. The gross value of construction works performed in respect of these projects amounted to $22.7 billion, up by 10.3% in nominal terms as compared with 2008.
Service building projects constituted the second largest group of construction site works. The gross value of construction works performed in respect of these projects totalled $9.3 billion in 2009, up by 42.7% in nominal terms as compared with 2008.
Tables 1 and 2 show the gross value of construction works performed by main contractors in the fourth quarter and the whole year of 2009 respectively. Table 3 shows the revised figures for the third quarter of 2009.
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.
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, 4th Quarter 2009". 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/Friday, March 12, 2010
Issued at HKT 16:30
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