Cambodia Sees Over 30% Increase in Steel Imports in Early 2024

• 10 June 2024
• Local News
• 1181 Views

In the first four months of 2024, Cambodia imported iron and steel worth approximately US$168 million, marking a significant 30.6% increase from the US$129 million recorded during the same period in 2023. This data was reported by the General Department of Customs and Excise on 21 May 2024.

The increase in imports extends beyond iron and steel alone. Iron and steel products saw a notable surge, reaching US$224.81 million, a 45.4% rise compared to US$154 million during the same timeframe last year. This uptick in steel imports indicates a potential revival in Cambodia’s construction sector, which is expected to see a series of reinvestments following a period of decline over the past few years.

The sharp rise in steel imports underscores a growing confidence in the construction industry’s recovery and a renewed momentum for infrastructure development across the country.

• Business and Market
• Economy and Finance