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The total gross value of construction work performed by main contractors decreased by 5.8% in nominal terms from a year earlier to $21.9 billion in the first quarter of 2006, according to the preliminary results of the Quarterly Survey of Construction Output released today (June 15) by the Census and Statistics Department.
After discounting price changes, the total gross value of construction work performed by main contractors decreased by 6.9% in real terms over the same period.
Gross value of construction work in real terms is derived by deflating the corresponding nominal value with an appropriate price index to the 2000 price level.
Analysed by type of construction work, the gross value of construction work performed at private sector sites totalled $6.1 billion in the first quarter of 2006, down by 9.9% in nominal terms from a year earlier. In real terms, it decreased by 10.4%. The decrease was mainly due to completion of work at some large residential building sites.
The gross value of construction work performed at public sector sites decreased by 31.5% in nominal terms from a year earlier to $4.7 billion in the first quarter of 2006. It decreased by 34.5% in real terms. The decrease was mainly due to completion of work on some public service building projects.
On the other hand, the gross value of construction work performed by contractors at locations other than construction sites amounted to $11.1 billion in the first quarter of 2006, up by 15.6% in nominal terms over a year earlier. In real terms, the increase was 17.1%. Construction work at locations other than construction sites includes minor new construction activities and renovation work at erected buildings and structures; and electrical and mechanical fitting work at locations other than construction sites.
Analysed by end-use category, residential building projects accounted for the largest share in the gross value of construction work performed at construction sites in the first quarter of 2006. The gross value of construction work performed for these projects amounted to $3.8 billion, down by 20.7% in nominal terms from a year earlier.
Transport projects constituted the second largest category of construction site work. The gross value of construction work performed for these projects totalled $2.4 billion, representing a decrease of 17.0% in nominal terms from a year earlier.
On a seasonally adjusted basis, the gross value of construction work performed by main contractors decreased by 1.3% in nominal terms or decreased by 1.5% in real terms in the first quarter of 2006 compared with the fourth quarter of 2005.
Table 1 shows the gross value of construction work performed by main contractors in the first quarter of 2006. Table 2 and 3 show the revised figures for the whole year of 2005 and the fourth quarter of 2005 respectively.
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 work 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 should have been included in the gross value of construction work performed by main contractors for whom they worked.
More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 1st Quarter 2006". Users can download this publication free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk) of the Census and Statistics Department (C&SD).
Print version of this publication is available for sale at HK$20 per issue if purchased in person at the Publications Unit of the C&SD (Address : 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel. : 2582 3025) or through mail order by completing and returning an order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp); or at HK$17 per copy if purchased online at the Statistical Bookstore and the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm).
For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the Census and Statistics Department at telephone no. 2805 6426 or email building@censtatd.gov.hk.
Ends/Thursday, June 15, 2006
Issued at HKT 16:16
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