Construction output fell by 8.4% in May

In May 2021, Ukraine’s construction companies decreased their output by 8.4% to ₴14.6 billion against May 2020 and by 6.9% against April this year, according to the State Statistics Service.

In May this year, the y-o-y dynamics in different sectors of the construction market was as follows:

• 30.9% increase in residential construction;
• 4.8% decrease in non-residential construction;
• 19.7% decrease in engineering construction.

In 5M 2021, the construction output fell by 6.1% to ₴54.4 billion compared to the same period of the previous year. The following is reported:

• 14.7% increase in residential construction;
• 6.6% decrease in non-residential construction;
• 14% decrease in engineering construction.

The share of new construction in the total construction output in January–May was 40.6%, repair 31.6%, reconstruction and technical re-equipment 27.8%.

As GMK Center reported earlier, the construction output declined by 5.3% y-o-y in January–April 2021, by 12.3% in January–March, by 12.8% in January–February and by 12.9% in January.

According to GMK Center observer Yuriy Grigorenko, the high dynamics of residential construction is definitely associated with the effect of a low comparison base. Last year many developers suspended works due to the lockdown.

In 2020, Ukrainian companies increased the construction output by 4% y-o-y. The sector’s performance improved due to the Big Construction program. The volume of construction totaled ₴199 billion.