Estonian construction companies saw a 34 percent year-on-year growth in volumes in the first quarter of 2011 but are still only at 2004 levels, new figures from Statistics Estonia show.
The growth numbers are relative to the first quarter of 2010, which was the low-point of the crisis. Volumes would have to increase 2.3-fold to reach the average level of the 2007 boom year.
The production value of the construction companies was 264 million euros last quarter, of which 67 percent was made up of building construction and 33 percent civil engineering.
About 15 percent of last quarter's volume was made up by projects in foreign countries, a portion of the market that was up 71 percent compared to the same period of the previous year.
The number of residential buildings completed during the quarter - 366 - was only about half of that of the first quarter of 2010. At the same time, 990 building permits for residential buildings were issued, an increase from both the prior quarter and the same period of last year.
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