Steel imports surge remarkably in Q1

Steel imports surge remarkably in Q1

Cambodia imported a total of $217 million worth of iron and steel in the first three months of 2025, a 75 percent increase from $124 million in the same period last year.

Iron and steel imports represented 2.9 percent of the total $7,573 million worth of goods imported by Cambodia in the three months, according to a report from the General Department of Customs and Excise of Cambodia.

In March alone, the volume of iron and steel imports was $72 million, up 90 percent from $37 million in March last year.

The economy is forecast to grow by 6.1 percent in 2025 and 6.2 percent in 2026, according to ADB Outlook issued on April 9.

This growth is primarily driven by increasing external demand for manufactured goods and continued recovery in tourism.

Construction and real estate should revive gradually while agriculture should continue to gain.

A gradual recovery in construction is expected both years, supported by industrial activities and residential developments.

However, the recovery in real estate will likely remain slow, partly due to reduced foreign investment.

Between 2019 and 2024, the real estate sector faced challenges from Covid-19 and global economic issues. Despite this, it stayed strong and kept improving, thanks to the government’s and private sector’s active efforts to help the sector recover to its pre-crisis state.

Pung Kheav Se, Chairman of the Cambodia Constructors Association (CCA), thanked the Royal Government for offering tax incentives to the real estate sector.

These incentives, announced during the 19th Royal Government-Private Sector Forum in late last year, aimed at reducing the tax burden on property developers and real estate owners, he said.

“The Cambodian Government also decided to waive taxes on unused land under five hectares per site and made efforts to support the real estate sector further,” Kheav Se said.

“These decisions show the government’s commitment to easing financial pressures on citizens and developers in the real estate market. By introducing these measures, the Cambodian government aimed to promote homeownership and growth in Cambodia’s construction and real estate sectors,” he added.

khmertimeskh