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Week’s Focus: Construction Survey

Growth and development of an economy depends on the development of infrastructure and this includes the construction sector. Statistics from the construction survey is also used to determine the growth
02 May 2015 08:18
Week’s Focus: Construction Survey
Construction Survey

Growth and development of an economy depends on the development of infrastructure and this includes the construction sector.

Statistics from the construction survey is also used to determine the growth domestic product.

In March of 2011, the Fiji Commerce Commission was given the authority by the cabinet to control the prices of hardware as this was an internal factor that was hindering the construction industry.

Accessibility

Due to high prices, accessibility to hospitals, educational institutions, decent dwellings for low income earners, repair and upgrading of roads and such was a concern thus the price control was put in place.

For e.g. the government was able to achieve many of its policy aims like the construction of the Navua Hospital which will create jobs and at the same time provide medical services to the people of Fiji.

Quarterly construction

The quarterly construction survey covers work carried out by registered Private Building and Civil Works Contractors.

In December quarter of 2014, the value of construction work put in place was estimated at $106.1 million.  Compared to the September quarter of 2014 and December quarter of 2013, the amount are higher by $1.0 million or 1.0 per cent and $6.9 million or 6.9 per cent respectively.

From the $106.1 million, $62.2 million was for work carried out for the Private Sector and $43.9 million was for work carried out for the General Government.

New Buildings & capital repairs

A total of $36.4 million was for the value of work put in place for New Buildings and Capital Repairs for December quarter of 2014.

An increase of $0.3 million or 0.9 per cent when compared to the September quarter of 2014 and a $0.1 million or 0.2 per cent increase over the December quarter of 2013.

$29.3 million was for value of work put in place for non-residential buildings and $7.0 million was for residential buildings.

Non-residential buildings mainly include commercial buildings, shops, religious and educational institutions.

Current repairs, maintenance

The value of work put in place for current repairs and maintenance was estimated at $12.9 million, out of this, $11.9 million was for the private sector and $1.0 million for the general government or 16.4 per cent for residential buildings and 83.6 per cent for non-residential buildings.

– This is an informative publication, sponsored by The Fiji Sun, Fiji Bureau of Statistics and HFC Bank. All views expressed or implied are purely of the Treasurer at HFC Bank, Peter Fuata.

 



FS TAUBMANS


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