Value of construction works in 2019 higher by 35%

The value of the construction works carried out in the territory of Serbia in 2019 is higher by 35% than in 2018, the Ministry of Construction, Transport and Infrastructure announced on Monday, February 10.

According to the Statistical Office of the Republic of Serbia, in the fourth quarter of 2019, the value of construction works done on the territory of the Republic of Serbia, expressed in constant prices, increased by 56.3% relative to the fourth quarter of 2018.

This exceeds the previous highest growth rate, recorded in the third quarter of 2019, when the value of the construction works was higher by 39.9%, which was the highest growth rate in a quarter in the construction sector since 2010.

The accelerated realization and completion of large infrastructure projects, as well as favorable conditions for investments, have enabled high growth rates in construction in the past few years (11.4% in 2017, 13.9% in 2018 and 35% in 2019), which resulted in an increase of the share of construction in the GDP, from 3.2% in 2014 to over 5% in 2019, the ministry says in the press release.

Republički zavod za statistiku

Ministarstvo građevinarstva, saobraćaja i infrastrukture Republike Srbije

Statistical Office of the Republic of Serbia

Ministry of Construction

value of construction works 2018

value of construction works 2019

share of construction in GDP

GDP