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In 2006, the total gross value of construction work performed by main contractors decreased by 1.0% in nominal terms compared with 2005 to $90.0 billion, according to the preliminary results of the Quarterly Survey of Construction Output released today (March 13) 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 2.3% 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 $24.8 billion in 2006, down by 5.8% in nominal terms as compared with 2005. In real terms, it decreased by 6.6%. The decrease was mainly due to completion of work at some commercial building sites.
The gross value of construction work performed at public sector sites amounted to $16.9 billion in 2006, decreased by 24.4% in nominal terms as compared with 2005. In real terms, it decreased by 25.7%. The decrease was mainly due to reduction in construction work on some transport projects.
On the other hand, the gross value of construction work performed by contractors at locations other than construction sites amounted to $48.3 billion in 2006, up by 14.5% in nominal terms over 2005. It increased by 13.4% 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.
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 2006. The gross value of construction work performed for these projects amounted to $15.5 billion, down by 8.5% in nominal terms as compared with 2005.
Transport projects constituted the second largest category of construction site work. The gross value of construction work performed for these projects totalled $8.1 billion in 2006, down by 17.0% in nominal terms as compared with 2005.
Comparing the fourth quarter of 2006 with the fourth quarter of 2005, the gross value of construction work performed by main contractors increased by 2.5% in nominal terms. In real terms, the increase was 0.8%.
Within this total, the gross value of construction work performed at private sector sites decreased by 1.4% in nominal terms in the fourth quarter of 2006 from a year earlier, and that of public sector sites decreased by 6.2%. As for construction work performed by contractors at locations other than construction sites, the gross value increased by 8.3% over the same period.
In real terms, the gross value of construction work performed at private sector sites decreased by 2.4% in the fourth quarter of 2006 from a year earlier. For public sector sites, the decrease was 5.3%. On the other hand, the gross value of construction work performed by contractors at locations other than construction sites increased by 5.2% over the same period.
On a seasonally adjusted basis, the gross value of construction work performed by main contractors increased by 2.3% in nominal terms or 2.4% in real terms in the fourth quarter of 2006 compared with the third quarter of 2006.
Table 1 and 2 show the gross value of construction work performed by main contractors in the fourth quarter and the whole year of 2006 respectively. Table 3 shows the revised figures for the third 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, 4th 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 telephone no. 2805 6426 or email address building@censtatd.gov.hk.
Ends/Tuesday, March 13, 2007
Issued at HKT 16:15
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