Cambodia’s Iron and Steel Imports Surge to $192 Million in H1 2023, Jump 3.4 %

• Sommana Yan
• 13 July 2023
• Local News
• 2960 Views

Cambodia’s imports of iron and steel reached an impressive $192 million in the first half of 2023, marking a significant 3.4% increase compared to the same period last year. These two essential commodities have secured their place among the top 20 imported goods, as stated in the General Department of Customs and Excise report released on 10th July 2023.

Iron and steel imports accounted for 1.6% of the total import value, which stood at an impressive $12.22 billion during this period, reflecting the nation’s strong demand for construction materials and infrastructure development.

While the iron and steel imports showcased robust growth in the first half of the year, June recorded a slight decline. Imports for that month amounted to $32 million, reflecting a modest 9.5% decrease compared to the previous year. This dip is likely attributed to seasonal fluctuations and market dynamics.

In parallel to the growing import figures, the Ministry of Land Management, Urban Planning, and Construction approved an impressive 1,023 construction projects in the first quarter, a notable increase of 22 projects from the same period last year. The total investment for these projects reached a staggering $1.248 billion, marking a remarkable 150.5% surge over the same period in the previous year. This surge signifies Cambodia’s construction industry’s robust growth and expanding landscape.

• Business and Market
• Economy and Finance