Completed Ukrainian construction works increased by 37.1% y/y in H1 2024

In H1 2024, the index of completed construction works in Ukraine increased by 37.1% compared to the same period in 2023. The volume of completed construction works during this period in monetary terms reached UAH 82.44 billion. This is evidenced data State Statistics Service.

The driver of construction growth in January-June was engineering constructions. The indicator in this sector increased by 46.1% y/y. At the same time, residential construction also increased – by 16.8% y/y, and non-residential construction – by 31.6% y/y. In monetary terms, residential construction reached UAH 11.79 billion, non-residential construction – UAH 20.98 billion, and construction of engineering structures – UAH 49.66 billion.

The share of new construction in the total volume of completed construction works for the first half of the year was 43.7%, repair – 29.4%, reconstruction and technical re-equipment – 26.9%.

The growth of engineering construction is associated with the restoration of transport and industrial facilities destroyed by Russian military aggression, as well as bridges, overpasses, roads, railways, pipelines, communications, power lines and other infrastructure and engineering structures. At the same time, a large proportion of new construction corresponds to the scale of destruction, which is not amenable to partial repair or reconstruction.

As GMK Center reported, the index of completed construction works in Ukraine in 2023 increased by 22.6% compared to 2022. The construction of engineering structures increased by 2.9% y/y. At the same time, residential construction decreased by 4.6% y/y, and non-residential construction increased by 20% y/y. The share of new construction in the total volume of completed construction works for the past year was 36.3%, repair – 42.9%, reconstruction and technical re-equipment – 20.8%.