Cambodia’s Iron and Steel Imports Jump 11% to US$93 Million in Q1 2023

• Sommana Yan
• 10 April 2023
• Local News
• 3128 Views

Cambodia’s imports of iron and steel amounted to US$93 million in the first quarter of 2023, up 11% from the same period last year. The two products were included in the list of top 20 commodities imported in March 2023, according to the General Department of Customs and Excise,

The import of iron and steel accounted for 1.6% of the total import value of US$34.2 billion, indicating that the construction sector, which requires these materials, is growing.

“Last year, the government approved 4,275 construction projects with a total investment of US$2,968 million,” said a Ministry of Economy and Finance report, demonstrating the potential for continued growth in the industry.

The rise in iron and steel imports is a positive sign for Cambodia’s construction industry, as the sector has been expanding rapidly in recent years, thanks to increased investment and demand for new housing and infrastructure. As a result, construction companies may expect a steady supply of iron and steel to support their projects in the coming months.

• Business and Market
• Economy and Finance