Cambodia Records USD505 Mil in Iron and Steel Imports, Construction Sector Gradual Recovery

• 14 November 2024
• Local News
• 576 Views

Cambodia imported iron and steel products worth USD505 million in the first ten months of 2024, a significant 65% increase compared to USD305 million during the same period in 2023.

Data from the General Department of Customs and Excise (GDCE) revealed that imports for October 2024 alone reached USD52.5 million, marking a 105% rise from USD25.4 million in October 2023.

Iron and steel accounted for 2.2% of Cambodia’s total imports, which were valued at approximately USD23.4 billion, as reported on 12 November 2024.

This surge in iron and steel imports signals a gradual recovery in Cambodia’s construction sector, reflecting increased demand for materials critical to infrastructure and real estate development. Analysts view this trend as an indicator of renewed confidence and activity in the country’s construction market, with potential for further growth in the near future.

• Business and Market
• Economy and Finance