The total value of construction works in Montenegro during the third quarter amounted to 158.92 million EUR, showing a 1.2% increase compared to the same period last year, according to preliminary data from Monstat. When compared to the second quarter of this year, the value of construction works grew by 0.6%.
Effective hours worked on construction sites in the third quarter were up by 2.7% compared to Q3 2023, and by 0.2% compared to the second quarter of this year.
The value of construction works includes costs for materials, labor, demolition, site preparation, installations, overhead costs and profit. It does not include costs for land acquisition, project design, supervision, or VAT.
The data on the value of completed works refer to construction activities carried out during the reporting period on both completed and ongoing construction sites. The recorded effective hours include the hours worked by employees on construction sites during regular working hours and overtime.
