Construction boost in Serbia: Value of works is 35 percent higher than in 2018

The value of construction works in the territory of Serbia in 2019 increased by 35 percent compared to 2018, according to the latest data from the Statistical Office of the Republic of Serbia.

In the fourth quarter, the value of completed construction works was expressed in constant prices.

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This also exceeded the previous record growth rate of construction in third quarter of 2019, in which the value of construction works increased by 39.9 percent, which was the highest growth rate of construction in one quarter since 2010 to date.

The accelerated realization and completion of major infrastructure projects, as well as favorable investment conditions, have led to high construction growth rates over the past few years (11.4 percent in 2017, 13.9 percent in 2018 and 35 percent in 2019).

This also resulted in an increase in construction's share in GDP, from 3.2 percent in 2014 to more than 5 percent in 2019.

Video: Belgrade as the city of cranes: Unprecedented amount of new construction in the capital

(Telegraf Biznis/Tanjug)