Romania’s construction works up 16% in 2020
The construction works volume in Romania rose by 15.9% in 2020, amid double-digit growth rates in all three sectors (residential, non-residential, and civil engineering), the National Statistics Institute (INS) announced.
In a year marked by 3.9% GDP contraction, the sector has been one of the few pockets of growth, alongside several other industries (pharmaceuticals, chemical), essential retail, logistics, and IT.
The non-residential buildings posted a slower growth, only 10.9%, as some segments (offices, even shopping centers) faced adverse sentiment prompted by the crisis while others thrived (logistics). Meanwhile, the residential segment rose by 17.8% in 2020, and its performance was constantly strong throughout the year. Notably, the volume of civil engineering works rose robustly by 18.5% - the strongest rate among the market’s segments.
By type of works, the figures are less impressive: new construction works rose below average, by 9.3%, while the volume of capital repairs soared by 46%, and the maintenance works grew by 24.4%.
In the last quarter of 2020, the volume of construction works increased by 12.2% year-on-year, after a 15.5% yoy advance in Q3 and 10.8% in Q2.
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