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Ford drives hike in car production in Romania
9 hours ago
The construction works volume in Romania rose by 15.9% y/y in 2020, amid double-digit growth rates in all three sectors (residential, non-residential, and civil engineering), the statistics office, INS, announced.
In a year marked by a 3.9% GDP contraction, the sector has been one of the few pockets of growth, alongside pharmaceuticals, chemical, essential retail, logistics and IT.
Construction of non-residential buildings posted a slower growth, only 10.9% y/y, as some segments, notably offices and shopping centres, faced adverse sentiment prompted by the crisis while others such as logistics thrived.
Meanwhile, the residential segment rose by 17.8% y/y in 2020, and its performance was constantly strong throughout the year.
Notably, the volume of works in civil engineering works rose robustly by 18.5% y/y — the strongest rate among the market’s segments.
By type of works, the figures are less impressive: new construction works rose below average, by 9.3% y/y, while the volume of capital repairs soared by 46% y/y, and the maintenance works grew by 24.4%.
In the last quarter of 2020, the volume of construction works increased by 12.2%y/y, after a 15.5% y/y advance in Q3 and 10.8% y/y in Q2.
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