Fiji's construction sector is thriving

Fiji's construction sector is thriving
17 December 2015

Construction activity continues to thrive as revealed by partial indicators of the Reserve Bank of Fiji.  The central bank revealed that up to September 2015 domestic cement sales rose by 46 per cent (to 130,522t) YoY.

In the first half of 2015, the total value of work put in place by the construction sector rose by10.9 per cent YoY to US$226.3m. This, according to RBF was in comparison with a growth of 24.4 per cent in the same period last year. Higher private (8.9 per cent) and public sector (13.8 per cent) activities contributed to the positive outcome in the review period.

"In contrast, the number and value of completion certificates issued fell by 14.1 per cent and 45.8 per cent, respectively over the same period.

"Nonetheless, the number and value of building permits issued – a forward looking indicator of construction activity – rose by an annual 1.1 per cent and 3.9 per cent respectively,” said an RBF spokesperson.

This year, RBF said, the construction sector was projected to expand by 14.4 per cent following a nine per cent growth last year.

In 2015 total investment is projected to be about 26 per cent of GDP, the third-consecutive year above the government's target of 25 per cent of GDP.

The cement market in Fiji is served by Pacific Cement Ltd and Tengy(Fiji) Cement Co Ltd.

Published under Cement News