Estonian construction volume declined by 6% in 2024

Text Ingel Kink

According to preliminary data from Statistics Estonia, the total production value of Estonian construction enterprises fell by 6 per cent in 2024 compared to the previous year. The domestic market saw an even steeper decline of 7 per cent.

Merike Sinisaar, a leading analyst at Statistics Estonia, noted that this marks the third consecutive year of contraction. “The downturn in the domestic construction market is mainly due to the decreased volume of building construction,” she said.

The production value of Estonian construction enterprises was 3.9 billion euros, with 2.4 billion euros in building construction and 1.5 billion euros in civil engineering. The number of completed new dwellings dropped by nearly a third, while building permits declined for the fourth consecutive year.

However, construction abroad grew by 5 per cent, mainly in building construction. “Construction in foreign countries accounted for 7 per cent of the total construction volume last year,” added Sinisaar.

Non-residential construction increased, particularly in storage, industrial, and commercial buildings.

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