Investment volume up 8.7% y.o.y. in Q1
In the first quarter of 2022, the investment growth starting in the second quarter of 2021 continued, with the volume of investments increasing by 8.7% year-on-year.
Construction investments representing 58% of the total volume of investments grew by 10% compared to Q1 2021, while investments in machinery and equipment representing 41% of the total value of investments increased by 7%. About seven-tenths of investment in machinery and equipment came from imports.
Among enterprises employing at least 50 people, realizing 54% of the investment performance, the volume of development increased almost by 11% compared to the low base, where developments of foreign-owned enterprises played a prominent role. At the same time, developments at budgetary units, accounting for 11% of investments, decreased by 13%. Local governments increased their tangible asset purchases, compared to the base period, while central government bodies decreased theirs.
Changes within investments over the reference period differ between sectors. Developments in manufacturing, the largest investor, accounting for 29% of developments in the national economy, increased greatly, by close to 20%. Subsections performed differently. Among the three heaviest weighted fields, the significant performance increase of the manufacture of electrical equipment offset the huge decline in the manufacture of transport equipment, while developments in the food industry grew by 9.4% year-on-year.
The performance of real estate activities, the second-largest investor accounting for 22% of developments in the national economy increased significantly, by 11%, mainly due to the outstanding growth in the dominant residential construction sector.
The volume growth starting in the previous year slowed down (2.1%) in the investments in the transportation and storage section, where the decrease in state infrastructural developments also played a role.
The 2.8% volume decrease in trade is mainly due to the ending of the retail shops’ outstanding developments registered in 2021.
The large expansion of agricultural building development contributed the most to the 20% increase in the volume of investments in agriculture.
The volume of developments in the public administration section lessened by 5.2%, due to the moderate development activity at the central public administration bodies.
Manufacturing contributed the most (by 5.1 percentage points) to the 8.7% volume increase of the national economy’s investments in the first quarter of 2022. Investment activity also grew due to the investment performance in real estate activities, agriculture as well as transportation and storage (by 2.3%, 0.9% as well as 0.2%). At the same time, performance decrease in public administration and commerce held back the volume increase (in both cases by 0.2 percentage points).
The seasonally adjusted volume of the national economy’s investments increased by 3.2% compared to Q4 2021. Within it the seasonally adjusted volume of construction investments increased by 2.7%, and investments in machinery and equipment grew by 6%
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