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1. In 2005, the total gross value of construction work performed by main contractors decreased by 2.5% in nominal terms compared with 2004 to $90.8 billion, according to the preliminary results of the Quarterly Survey of Construction Output released today (March 16) by the Census and Statistics Department.
2. After discounting price changes, the total gross value of construction work performed by main contractors decreased by 2.4% in real terms over the same period.
3. 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.
4. Analysed by type of construction work, the gross value of construction work performed at private sector sites totalled $26.4 billion in 2005, down by 5.9% in nominal terms as compared with 2004. In real terms, it decreased by 6.1%. The decrease was mainly due to completion of work at some large residential building sites.
5. The gross value of construction work performed at public sector sites amounted to $22.3 billion in 2005, down by 21.8% in nominal terms as compared with 2004. In real terms, it decreased by 21.1%. The decrease was mainly due to completion of work on some public residential building projects.
6. On the other hand, the gross value of construction work performed by contractors at locations other than construction sites amounted to $42.1 billion in 2005, up by 15.1% in nominal terms over 2004. It increased by 15.9% in real terms. 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.
7. 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 2005. The gross value of construction work performed for these projects amounted to $16.9 billion, down by 15.6% in nominal terms as compared with 2004.
8. Transport projects constituted the second largest category of construction site work. The gross value of construction work performed for these projects totalled $9.8 billion in 2005, down by 20.8% in nominal terms as compared with 2004.
9. Comparing the fourth quarter of 2005 with the fourth quarter of 2004, the gross value of construction work performed by main contractors decreased by 5.8% in nominal terms. In real terms, the decrease was 5.7%.
10. Within this total, the gross value of construction work performed at private sector sites decreased by 9.4% in nominal terms in the fourth quarter of 2005 from a year earlier. The gross value of construction work performed at public sector sites decreased by 33.2%. The gross value of construction work performed by contractors at locations other than construction sites increased by 15.9%.
11. In real terms, the gross value of construction work performed at private sector sites decreased by 9.6% in the fourth quarter of 2005 from a year earlier. For public sector sites, the gross value of construction work decreased by 33.6%. The gross value of construction work performed by contractors at locations other than construction sites increased by 17.6%.
12. On a seasonally adjusted basis, the gross value of construction work performed by main contractors decreased by 1.9% in nominal terms or 1.7% in real terms in the fourth quarter of 2005 compared with the third quarter of 2005.
13. Table 1 and 2 show the gross value of construction work performed by main contractors in the fourth quarter and the whole year of 2005 respectively. Table 3 shows the revised figures for the third quarter of 2005.
14. 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 to projects should have been included in the gross value of construction work performed by main contractors for whom they worked.
15. More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 4th Quarter 2005". The publication is now on sale at HK$17 per issue. Both print version and download version of the publication can be purchased online at the ä©•Statistical Bookstore, Hong Kongè’… (http://www.statisticalbookstore.gov.hk). Download version of the publication can be purchased at 75% of its original price exclusively at the online Statistical Bookstore. Print version if purchased online is also offered a discount, at 85% of its original price at the Statistical Bookstore as well as the Government Bookstore (http://www.isd.gov.hk/eng/bookorder.htm).
16. For purchase of print version, this can be done through mail order by returning a completed order form which can be downloaded from the C&SD's website (http://www.censtatd.gov.hk/eng/prod_serv/forms_index.html). Purchase can also be made in person at the Publications Unit of the C&SD (Address : 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel. : 2582 3025).
17. 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, March 16, 2006
Issued at HKT 16:17
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