Construction Material Imports Surge nearly US$350m in Q1 2024, Reflecting Cambodia’s Booming Construction Sector

• 18 April 2024
• Local News
• 2830 Views

In the first quarter of 2024, Cambodia witnessed a remarkable surge in its construction sector, as imports of construction materials soared to an impressive US$349 million, marking a significant increase of 22.24% compared to the same period last year. This data, derived from the General Department of Customs and Excise, illuminates the thriving growth and vibrant activity within the construction industry.

Iron and steel imports emerged as a pivotal driving force behind this upward trajectory, skyrocketing to US$166 million during the first quarter, representing a substantial surge of 38.15% compared to the corresponding period in the previous year.

Additionally, Cambodia experienced a noteworthy rise in cement imports, with the country importing US$5.32 million worth of cement from abroad, reflecting a 15% increase from the same period last year.

The surge in construction material imports mirrors the buoyancy of Cambodia’s construction sector, underscoring the nation’s commitment to ongoing infrastructure development projects and burgeoning construction activities across the country. With Cambodia currently hosting five cement factories boasting a combined production capacity of approximately 9 million tons per year, it is evident that the country is dedicated to meeting the escalating demand for construction materials amidst rapid urbanisation and development endeavours.

• Business and Market
• Economy and Finance
• Construction & Property TV news channel