Cambodia’s Construction Material Imports Surge to USD 1bn, a 21% Increase in First 8 Months of 2024

• Sommana Yan
• 8 October 2024
• Uncategorized
• 2651 Views

Cambodia’s import of construction materials hit USD 1.063 billion in the first eight months of 2024, marking a 21.58% increase compared to the same period last year. Despite this significant rise, the country’s construction sector is expected to experience a slower recovery, as highlighted by a recent report from both the General Department of Customs and Excise dated 9 September 2024.

During this period, Cambodia also saw a decrease in cement imports, which amounted to over USD 12 million—a drop of 15% compared to 2023. While imports of construction materials surged, the overall construction sector is projected to recover at a modest pace of 1.1%, with the real estate sector expected to grow slightly by 1.2% by the end of 2024, according to the Ministry of Economy and Finance’s mid-year report.

This uptick in material imports, coupled with a slower-than-expected recovery, reflects the current cautious trajectory of Cambodia’s construction and real estate markets as they aim to regain momentum following global disruptions.

• Business and Market
• Economy and Finance