Value of construction works down by 5.8 percent

BELGRADE - The value of construction works performed by Serbian contractors declined by 8.5 percent in the fourth quarter of last year against the same period in 2012, states a release issued by the Statistical Office.

Construction works performed on the territory of Serbia account for 78.8 percent, and those carried out abroad for the remaining 21.2 percent of the total value of undertaken works. The value of building construction rose by 34.8 percent, while other sectors reported a 22.8 percent decrease in value.

Observed by areas, the highest increase in construction activities was reported by contractors in the Belgrade city area, accounting for as many as 45.4 percent of the total value of works.

Zlatibor district in western Serbia follows with 14.6 percent, ahead of South Backa District in northwestern Serbia with 10.5 percent, while the shares of other districts range between 0.2 and 3.2 percent.

The value of contracted works dropped in the fourth quarter by 36.1 percent compared to the same period last year, although the value of contracted works to be performed abroad saw an increase of 82.2 percent.