The volume of construction works in Romania increased by 27.9% in January - September this year compared to the same period of 2018, according to data published by the statistics office INS.
The growth rate accelerated to 35.4% year-on-year in the third quarter of the year (Q3) from 30.8% year-on-year in Q2, and 11.7% year-on-year in Q1.
In 2018, the volume of construction work reported by companies in the sector contracted by 4.1% compared to 2017, after even steeper declines in the previous years (2016-2017).
In the third quarter of this year, all the three segments of the market (residential buildings, non residential buildings and civil engineering) boasted annual growth rates in excess of 30% year-on-year.
For the January - September period, the construction of non residential buildings (including industrial and logistic spaces but also shopping malls and office buildings) boasted the strongest growth rate: 38.3% year-on-year, compared to 32.1% year-on-year growth in the residential buildings segment and more modest 20% year-on-year advance in the civil engineering segment (that depends on the public budget).
The revenues of Romanian group TeraPlast, one of the biggest producers of construction materials on the local market,...