Cambodia Imports Over US$1 Billion of Construction Materials in 2020, Down by 7.3% Y-o-Y

• 5 April 2021
• Local News
• 3626 Views

Construction materials imports were valued in 2020 at over US$1 billion, a decrease of 7.3% compared to 2019, according to a recent report by the Ministry of Commerce.

Of all construction materials, steel imports fell by 27.52%, from about US$556 million in 2019 to US$403 million in 2020.

Similar, cement imports value dropped sharply by 48.59% from US$128 million in 2019 to US$66 million in 2020.

According to a World Bank report issued in November, the decline was because some large development projects, especially high-rise commercial and residential buildings, were put on hold. (Read more)

The report added that construction activity has remained weak since the first half of 2020. The value of approved construction permits also declined by 9.3% in the first nine months of 2020, compared to the same period in 2019.

“The subdued construction and real estate activity might drag down the real growth in the short term, as the two sectors have been the largest engines of growth in recent years,” said the report.

According to the report by the Ministry of Economy and Finance in January, the these two sectors are projected to grow slightly, at 2.9% and 2.7% in 2021. (Read more)

• Business and Market
• Economy and Finance
• Policy and Strategy