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Volume of construction work increases by almost quarter in Azerbaijan

Business Materials 15 August 2011 15:43 (UTC +04:00)

Azerbaijan, Baku, Aug.15 / Trend, A.Akhundov/

The volume of construction work in Azerbaijan increased by 22.7 percent in January-July 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 26.6 percent, while private sector - 73.4 percent.

Some 75.6 percent of the total amount of construction work accounted for new buildings, reconstruction and expansion work, 16.4 percent - major repairs, 3 percent - current repairs, 5 percent - other construction work, the committee said.

Some 71,700 people were involved in the construction sector of Azerbaijan in January-July. During this period nominal wage level in the construction sector amounted to 512.3 manat, which is 3.1 percent more than January-July 2010. Wage in state-owned companies hit 376.6 manat (increasing by 7.1 percent), while in private companies 617.4 (decreasing by 3.9 percent).

Nominal wage levels in major and small construction companies during this period amounted to 541.3 manat. The level of wages in the sphere of construction of buildings decreased by 0.5 percent during the year compared to the same period of 2010 and amounted to 538.1 manat, wage on civil construction works amounted to 338 manat increasing by 9 percent, in the specialized construction - by 6.7 percent and amounted to 597.1 manat.

The official exchange rate is 0.7866 manat to $1 on Aug. 15.

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