PHNOM PENH: Construction projects have increased the volume of Cambodia’s budget on steel imports, which has resulted in a significant increase in the first eight months of this year 2022 compared to 2021.

According to the General Department of Customs and Excise of Cambodia, in the first eight months of 2022, Cambodia spent more than 244 million dollars on steel through all the construction projects, which is a 20 percent increase over the same period in 2021.

This report covers the period January-August 2022 and shows that steel imports to the country totaled 244.75 million US dollars, a 20% increase over the same period in 2021. $ 204.02 million, or 1.1 percent of total Cambodian imports of $ 21,764.02 million.

Mr. Chiv Siv Pheng, an expert with the Cambodian Builders Association, the number of steel imports increased in the previous 8 months due to investment projects with local developers, particularly housing constructions.

Cambodia approved 2,000 construction projects totaling nearly 3 million square meters and a total investment of $1,206 million in the first half of 2022. According to the Ministry of Land Management, Urban Planning, and Construction’s report.