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The total gross value of construction works performed by main contractors in the third quarter of 2011 increased by 13.2% in nominal terms over a year earlier to $32.4 billion, according to the provisional results of the Quarterly Survey of Construction Output released today (December 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 increased by 5.4% 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 $9.1 billion in the third quarter of 2011, up by 23.5% in nominal terms compared with a year earlier. In real terms, it increased by 19.0%.
The gross value of construction works performed at public sector sites increased by 22.5% in nominal terms to $10.6 billion in the third quarter of 2011. In real terms, it increased by 15.2%.
The gross value of construction works performed by main contractors at locations other than construction sites amounted to $12.7 billion in the third quarter of 2011, up by 0.8% in nominal terms compared with a year earlier. In real terms, it decreased by 8.2%. Construction works at locations other than construction sites included minor new construction activities and decoration, repair and maintenance works 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 in the third quarter of 2011. The gross value of construction works performed in respect of these projects amounted to $7.0 billion, up by 21.2% in nominal terms compared with a year earlier.
Transport projects constituted the second largest group of construction site works. The gross value of construction works performed in respect of these projects totalled $5.8 billion, up by 60.4% in nominal terms over a year earlier.
On a seasonally adjusted quarter-to-quarter basis, the gross value of construction works performed by main contractors increased by 13.6% in nominal terms and 10.6% in real terms in the third quarter of 2011 compared with the second quarter of 2011.
Table 1 shows the gross value of construction works performed by main contractors in the third quarter of 2011 and Table 2 shows the revised figures for the second quarter of 2011.
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) Version 2.0, which is used in various economic surveys for classifying economic units into different industry classes.
More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 3rd Quarter 2011". Users can download this publication free of charge at the website of the 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 e-mail: building@censtatd.gov.hk).
Ends/Monday, December 12, 2011
Issued at HKT 16:31
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