FIJI CONSTRUCTION SLUMP CONTINUES

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Third quarter activity down 31 percent

SUVA, Fiji (Fiji Times, Jan. 2, 2010) – In Fiji, the construction industry continued to slump in the third quarter of 2009, recording a 31 percent decrease compared to the same period the previous year.

The Fiji Islands Bureau of Statistics quarterly survey says the total works put in place for the third quarter were at FJ$50 million [US$25.6 million], FJ$22.5m [US$11.5 million] less than the same period in 2008.

The survey covered all private sector enterprises engaged in various types of construction work for the private sector as well as for the government.

Most or FJ$45.3m [US$23.2 million] worth of works undertaken in the period ending September were for the private sector while FJ$4.7m [US$2.4 million] was for the government.

Last year, the total works in the construction industry was FJ$254m [US$130 million].

This year the last three quarters have recorded more than FJ$170m [US$87 million] worth of construction activity.

"The total estimated value of work put in place for new building and capital repairs during the quarter three of 2009 was FJ$30.4m [US$15.6 million] -- a decrease of FJ$5.8m [US$3 million] or 16 percent from the previous quarter and FJ$29m [US$14.9 million] or 48.8 percent from the previous corresponding quarter," government statistician Timoci Bainimarama said.

"Of the FJ$30.4m [US$15.6 million], FJ$4m [US$2 million] was for residential buildings and FJ$26.4m [US$13.5 million] for non-residential buildings.

"New buildings and capital repairs accounted for 60.9 percent of the total estimated value of work put in place of which 13.3 percent were for residential buildings and 86.7 percent were for non residential buildings.

"Hotels, shopping and educational institutions contributed significantly towards non-residential buildings."

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