PRIVATE sector construction activities bounced back in the second quarter of 2021 with a value growth of 194.3 percent compared to last year, according to the Philippine Statistics Authority (PSA).
Data showed the value of private construction reached P84.356 billion in the second quarter of 2021, higher than the P28.664 billion recorded in the same period last year, the height of mobility restrictions in the country.
However, there was a 3.65-percent contraction compared to the P87.55 billion recorded in the first quarter of 2021.
âThe number of constructions in the second quarter of 2021 registered a total of 38,389, indicating an annual expansion of 114.1 percent. This increase was faster than the previous quarterâs annual growth rate of 4.7 percent,â the PSA added.
Data showed residential building constructions, valued at P43.79 billion, accounted for 51.9 percent of the total value of constructions in the second quarter of 2021.
This amount represented a 209.5-percent increase from the P14.15 billion total construction value in the same quarter of 2020.
PSA said residential constructions reached 27,375 or 71.3 percent of the total number of constructions in the second quarter.
This type of construction increased at a rate of 102.8 percent, a rebound from the 61-percent decline recorded in the same quarter of 2020.
âMajorityâ82.4 percentâof the total residential constructions were single-type houses,â PSA said.
Meanwhile, the value of non-residential constructions reached P32.83 billion and accounted for 38.9 percent of the total value during the quarter.
This translates to a 146.5-percent growth from the P13.32 billion value of non-residential construction in the same quarter of the previous year.
The data showed non-residential constructions, which accounted for 14.5 percent of the total constructions during the quarter.
This was a 119.2-percent growth from the same period of the previous year. PSA said 69.2 percent of the non-residential constructions were commercial buildings.
Construction in 2020
PSA also released on Tuesday full-year construction statistics showing the value of construction activities declining 43.9 percent last year.
Data showed the value of construction activities reached P275.814 billion in 2020, significantly lower than the P491.81 billion recorded in 2019.
The decline in value was mainly due to the 28.5-percent contraction in the number of construction activities last year.
PSA said there were 123,783 construction projects in 2020, significantly lower than the 173,162 projects recorded in 2019.
In terms of value, data showed residential building constructions amounted to P131.08 billion, accounting for 47.5 percent of the total value in 2020.
This indicates a contraction of 42 percent from the P225.82-billion construction value posted in 2019.
Residential construction accounted for 70.6 percent of the total number of constructions in 2020.
Data showed 87,419 construction projects in 2020, a 29.7-percent decline from the previous yearâs count.
Meanwhile, the value of non-residential buildings amounted to P124.96 billion or 45.3 percent of the total value in 2020.
This, however, reflected a contraction of 46.4 percent from the P233.19-billion value of construction reported in the previous year.
In terms of number, there were 19,407 commercial construction projects which accounted for 15.7 percent of the total number of constructions in 2020. PSA said this represented a 27.2-percent decline from 2019.
The PSAâs construction statistics are derived from approved building permits. The final annual data include additional approved building permits collected after the monthly cut-off date.
These approved building permits include new constructions; and additions to, and alterations and repairs of existing residential and non-residential buildings, and other structures which are proposed to be constructed in the different cities/municipalities of the country.
Image courtesy of Nonoy Lacza