Construction production ended in March with a double-digit decline, only construction works abroad rose slightly

In March, after two months of significant growth, the construction in Slovakia dropped by as much as a tenth. All components of inland construction production contributed to the negative result. The growth was maintained only by the construction activity carried out abroad.

In March 2023 compared with March 2022, construction output¹⁾ reached EUR 481.9 million, it decreased by 10.1%²⁾, which was the highest year-on-year decrease in the last two years. After seasonal adjustment, construction output³⁾ was lower by 10.4% compared to the previous month.

The production realized by domestic companies, which made up 90% of the total performance of the construction industry, dropped by up to 11.3% compared to March 2022. A decrease was registered not only by new construction⁴⁾ by 5.4%, but also construction works on repairs and maintenance, which were lower by more than 20% year-on-year. Other works, representing the smallest share in production, dropped by almost a third.

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Works on civil engineering constructions, which also include the construction of highways, slowed down by 10.7% year-on-year, and the construction on buildings also decreased by 9%.

Works abroad did not contribute to the decline of construction production in March 2023, only maintained a moderate growth of 2.2%, similarly as in February. Their share in the total production was only 10%.

In the first quarter of 2023, construction production reached a volume of EUR 1.3 billion and increased by 2.8% year-on-year. The volume of domestic construction work increased by 3.5%, while inland new construction⁴⁾ was higher by almost 9% year-on-year, but repairs and maintenance decreased by 5%. Abroad production was lower by 3.7% than in the first three months of last year.