(RTTNews) - Monday, a report by Statistics Estonia said construction output, which includes production by Estonian construction enterprises in the country and in foreign countries, fell 16% year-on-year in the third quarter. The report said the decline in construction output that began in the beginning of the present year, deepened in the third quarter.

The value of construction output amounted to 9.9 billion kroons in the third quarter, of which production value of building construction was 5.9 billion kroons and that of civil engineering was 4 billion kroons. The volume of building construction declined by more than one-fifth, while the volume of civil engineering fell 3%. This was mainly due to a decrease in volume of dwelling construction in the domestic market.

Statistics Estonia said the construction market, which showed growth only in 2000, turned to a fall in the beginning of 2008, owing to unsatisfactory demand and complicated financing conditions. The present situation in construction sector was similar to that in 1999, when the recession affected the construction enterprises the most, it said.

Meanwhile, in foreign markets, construction volume rose 15% year-on-year, helped by a growth in volume of both building construction and civil engineering.

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