In January, construction industry recorded a double-digit growth, affected mainly by new construction

In January 2023, the Slovak construction industry recorded a revival of more than 15%, the growth of production was the highest in the last five years. The positive outcome is the result of the growth of new construction and the increase of engineering works, from the perspective of the type of construction. The overall result was slightly dampened by the decline in works carried out abroad.

In January, the volume¹⁾ of construction works reached EUR 388.4 million and it increased by 15.4% year-on-year²⁾, which represented the highest growth since 2018. After seasonal adjustment, construction output³⁾ was higher by 3.2% than in December 2022.

The total volume of production realized by domestic companies increased by almost 20% year-on-year, the significantly higher year-on-year activity was evident in both main components- in new construction⁴⁾ by 26.4%, as well as in repairs and maintenance by 13.4%. Domestic construction production represented more than 90% of the total construction output.

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In terms of the production specialization, works on buildings recorded a double-digit growth (by almost 12%), engineering works, which also includes highway construction, increased by up to half year-on-year.

In January 2023, the overall result of construction production was slightly dampened by works carried out abroad, which after the December´s growth dropped by almost 16%, year-on-year. Their share in the total output exceeded 9%.