Construction activity in infrastructure development, maintenance, and repairs has been slow during the first half of this year. According to the latest Westpac Fiji quarterly economic update, the total value of construction work completed so far has reached $244.51 million, reflecting an 8.9 percent decline compared to the same period last year.
Senior economist Shamal Chand pointed out that this decrease is largely due to a lack of activity in both private and government building projects. In the first six months, there were only 466 new building permits issued, representing a significant 27.4 percent drop from the previous year.
Despite these challenges, Mr. Chand noted signs of potential growth in the sector. The Reserve Bank of Fiji reported increases in both cement production and domestic cement sales, with year-to-date growth of 6.6 percent and 7.6 percent, respectively. This rising demand for construction materials is expected to contribute to an increase in the real value of work completed in the near future.
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