7.
Building, construction & real estate sectors survey results
The gross output of the construction sector in 1994 amounted to $174.1 billion, representing an increase of 14.9% over 1993. This comprised a gross value of $166.9 billion for the construction work performed and an income of $7.2 billion from other
sources.
Net of total operating expenditure, the gross operating surplus rose by 10.5% to $10.8 billion in 1994, amounting to 6.2% of the gross output. The proportion was 0.3 of a percentage point lower than in 1993.
These are some of the major findings of the 1994 Survey of Building, year and Construction and Real Estate Sectors conducted from April 1995 to early this released by the Census and Statistics Department today (Tuesday).
All dollar figures mentioned in this press release are in terms of nominal value. The percentage changes derived from these figures have not been adjusted for price changes. Caution should therefore be taken in interpreting the survey results.
In terms of percentage of gross output, the operating expenditure incurred by construction establishments amounted to 93.8% in 1994.
This comprised 20.4% for compensation of employees and payments to labour- only sub-contractors: 19.2% for consumption of materials, supplies, and maintenance services; 45.1% for payments for fee sub-contract work; and 9.1% for other miscellaneous operating expenses.
Compared with 1993, the percentage share of compensation of employees and payments to labour-only sub-contractors in total gross output was lower by 1.6 percentage points; and that for consumption of materials, supplies, and maintenance services by 2.3 percentage points.
On the other hand, the percentage share of payments for fee sub-contract work was up by 2.8 percentage points; and that for other miscellaneous operating expenses by 1.4 percentage points.
The value added of the construction sector, which is a measure of its contribution to Hong Kong's gross domestic product, amounted to $46.3 billion in 1994. This represented an increase of 7.2% over 1993.
The value added content of the gross output of the construction sector amounted to 26.6%, comprising 20.4% for compensation of employees and payments to labour-only sub-contractors and 6.2% for gross operating surplus.