The total gross value of construction work main contractors performed in the first quarter of the year increased 7.4% in nominal terms over the same period last year, to $53.2 billion, the Census & Statistics Department announced today.
After discounting the effect of price changes, the total gross value increased 2% in real terms.
The gross value of construction works performed at private sector sites totalled $15.2 billion, up 13.4% in nominal terms and 6.1% in real terms.
For public sector sites, the value increased 0.2% in nominal terms to $18.3 billion. In real terms, it decreased 5.4%.