The volume of construction work in Romania in January-May increased by 11.3% y/y, the statistic office INS announced. In May alone, the annual growth was 10.3% y/y.

The growth was driven entirely by the civil engineering segment, which surged 31.8% y/y in January-May and 40.6% y/y in May.

The volume of work on building projects (residential and non-residential) contracted by 2.4% y/y in January-May and by 9.2% y/y in May.

Both the sub-segments of residential and non-residential buildings have suffered setbacks as they contracted by 2% y/y and 2.8% y/y, respectively, in January-May. The decline rates are, however, rather moderate and under a broader perspective, the two sub-segments are rather stable in terms of volume of activity with no sustained downward dynamics. 

Constructors in Romania and Slovenia - the champions of the post-Covid period in the region: around 40% above the average of 2019 in January-May this year. Civil engineering works particularly gained momentum in Romania, while Slovenia boasts robust growth in both segments (buildings, civil engineering).

Croatia had performed well until the end of 2022 but lost momentum this year. Slovakia is the region's laggard.

iulian@romania-insider.com

(Photo source: Baaa 14ej Ayjak/Dreamstime.com)