Palestinian construction sector slows down
Palestinian Central Bureau of Statistics (PCBS) said that the total value of expenditure of new construction buildings and additions decreased by 6.9% during 2005 compared with 2004.
In a press release issued Wednesday, PCBS revealed that the released the results of existing building survey in the Palestinian Territory 2005 showed that the value of expenditure of new construction of buildings and additions in 2005 was $755.6 million, $365.8 million in the West Bank and $359.5 million was in Gaza Strip, and $30.3 million in Jerusalem.
"It was distributed by type of building as follows: : $163.2 million for buildings, $171.2 million for villa & house, $225.3 million for establishments and $194.6 million for under construction and $1.3 million for other type of buildings," It added.
PCBS pointed out that the survey results indicate that the results showed that the value of current maintenance on buildings in the Palestinian Territory in 2005 is $111.9 million, and the value of expenditures of capital construction additions repairs and improvements on buildings in the Palestinian Territory is $182.0 million.
Comparing the results, the PCBS stated that the value of expenditure of new construction of buildings and additions in 2005 with the previous year 2004, we noticed a decreased by 6.9% in the total value expenditure of new buildings and additions, on the other hand.
"It was increased by 84.8% compared with 2003, and by 99.0% compared with 2002, and by 200.0% compared with 2001," it said.
PCBS added that the results showed a decrease in the total value of expenditure of capital repair and improvements on buildings by 36.4% in 2005 compared with 2004, and an increase by 179.1% compared with 2004, while increased by 178.4% compared with 2002, and by 385.0% compared with 2001.