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The total gross value of construction work performed by main contractors decreased by 1.5% in nominal terms from a year earlier to $22.3 billion in the third quarter of 2006, according to the preliminary results of the Quarterly Survey of Construction Output released today (December 14) by the Census and Statistics Department (C&SD).
After discounting price changes, the total gross value of construction work performed by main contractors decreased by 3.1% 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 $6.0 billion in the third quarter of 2006, down by 8.3% in nominal terms from a year earlier. In real terms, it decreased by 9.0%. The decrease was mainly due to completion of work at some large commercial building sites.
The gross value of construction work performed at public sector sites decreased by 21.5% in nominal terms from a year earlier to $3.9 billion in the third quarter of 2006. It decreased by 21.8% in real terms. The decrease was mainly due to completion of work on some public residential building projects.
On the other hand, the gross value of construction work performed by contractors at locations other than construction sites amounted to $12.4 billion in the third quarter of 2006, up by 11.3% in nominal terms over a year earlier. In real terms, the increase was 9.0%. 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 third quarter of 2006. The gross value of construction work performed for these projects amounted to $3.9 billion, down by 1.4% 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 $1.9 billion, representing a decrease of 22.2% in nominal terms from a year earlier.
On a seasonally adjusted basis, the gross value of construction work performed by main contractors decreased by 1.7% in nominal terms or decreased by 2.4% in real terms in the third quarter of 2006 compared with the second quarter of 2006.
Table 1 shows the gross value of construction work performed by main contractors in the third quarter of 2006 and Table 2 shows the revised figures for the second quarter of 2006.
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.
More detailed statistics are given in the "Report on the Quarterly Survey of Construction Output, 3rd Quarter 2006". The publication is now available for download (in PDF format) free of charge at the "Statistical Bookstore, Hong Kong" (www.statisticalbookstore.gov.hk). The print version of the publication can be purchased in the following ways:
* Purchase in person at the Publications Unit of the C&SD (Address: 19/F, Wanchai Tower, 12 Harbour Road, Wan Chai; Tel:2582 3025) at HK$20 per copy.
* Complete a mail order form which is available for downloading from the website of C&SD (www.censtatd.gov.hk/products_and_services/other_
services/provision_of_stat/mail_ordering_of_publications/index.jsp) and return it to C&SD. The price (excluding postage) is the same as above.
* Purchase online at the Statistical Bookstore or the Government Bookstore of the Information Services Department (www.isd.gov.hk/eng/bookorder.htm). Print versions if purchased online are offered a discount and are sold at 85% of their original prices. After discount, the price (excluding postage) is HK$17 per copy.
For enquiries about the survey results, please contact the Construction and Miscellaneous Services Statistics Section of the C&SD at Tel: 2805 6426 or email address: building@censtatd.gov.hk.
Ends/Thursday, December 14, 2006
Issued at HKT 16:16
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