The volume of construction contracts at the end of 2020 was the highest since 2008

Prague – Construction companies in the Czech Republic had 18,286 contracts worth 199.8 billion crowns at the end of last year, which is 16.8 percent more year-on-year. The value was the highest since 2008. Nearly three-fifths belonged to public contracts, while the rest were private. This data comes from the Czech Statistical Office. The figures are recorded from companies with 50 or more employees.

"Paradoxically, the rigid process of preparing construction contracts has helped us. It is so lengthy that contracts planned before the coronavirus crisis are still being finalized. Additionally, planning and implementation of engineering constructions have improved, benefiting primarily larger construction companies," previously stated analyst Štěpán Křeček from BH Securities.

"Larger construction firms with more than 50 employees have more than enough contracts, but they struggle with a lack of suitable workforce, often foreign. Due to the COVID situation, many remain in their home countries," added analyst Lukáš Kovanda from Trinity Bank.

Czech construction fell by 7.7 percent year-on-year last year. Ground construction, primarily the construction of apartments, offices, or industrial halls and warehouses, decreased by 10.1 percent. Engineering construction, mainly consisting of transport infrastructure construction, fell by one percent. According to analysts, the decline will continue this year, with a partial recovery expected at the earliest in the second half of the year.

Number and value of construction contracts at the end of the period

Period	Number	Value (in billion CZK)
1999	8686	106.01
2000	7918	96.82
2001	7595	111.49
2002	8760	129.12
2003	8584	149.77
2004	9747	203.08
2005	10,513	195.53
2006	11,027	216.31
2007	8832	187.05
2008	7601	215.13
2009	8785	174.90
2010	9857	149.28
2011	11,164	143.08
2012	9302	140.37
2013	10,206	141.02
2014	13,271	163.45
2015	13,640	125.14
2016	18,391	128.96
2017	17,238	133.42
2018	18,444	153.41
2019	18,769	171.10
2020	18,286	199.80

Source: Czech Statistical Office