Volume of construction work increases by 20 percent in Azerbaijan

Business Materials 20 July 2011 17:08 (UTC +04:00)

Azerbaijan, Baku, July 20 / Trend, A.Akhundov/

The volume of construction work in Azerbaijan increased by 19.5 percent in January-June compared to the same period of 2010, the State Statistics Committee of Azerbaijan said.
The volume of construction work conducted by state-owned enterprises comprised 29.2 percent, while private sector - 70.8 percent.

Some 75.8 percent of the total amount of construction work accounted for new buildings, reconstruction and expansion work, 15.7 percent - major repairs, 3 percent - current repairs, 5.5 percent - other construction work, the committee said.

Some 69,400 people were involved in the construction sector of Azerbaijan in January-June. During this period nominal wage level in the construction sector amounted to 512.4 manat, which is 3 percent more than the first half-year of 2010. Wage in state-owned companies hit 373.1 manat (increasing by 6.9 percent), while in private companies 625.5 (decreasing by 4.3 percent).

Nominal wage levels in major and small construction companies during this period amounted to 540 manat. The level of wages in the sphere of construction of buildings increased by 0.9 percent during the year compared to the same period of 2010 and amounted to 543.8 manat, wage on civil construction works amounted to 338.1 manat increasing by 9.3 percent, in the specialized construction - by 3.4 percent and amounted to 587.8 manat.

The official exchange rate is 0.7864 manat to $1 on July 20.