Cambodia’s construction sector fell in 2020

• Apr 17, 2021

The value of approved construction projects dropped by 32 percent in 2020 to $7.75 billion and imports of building materials, steel and cement also saw a decline.

Construction projects last year were approved on a total surface of 17 million square meters, a year-on-year decrease of 27 percent, according to the Ministry of Economy and Finance.

The ministry, however, did not detail the number of total approved projects last year.

The ministry places forecasts for the construction sector’s growth at 2.9 percent and 7.8 percent in 2021 and 2022, respectively.

The growth will be supported by the influx of foreign investment projects and recovery of the country’s economy.

According to data from the Ministry of Commerce, building materials imported in 2020 were valued at about $1 billion, a year-on-year decrease of 7.3 percent, while steel imports and cement imports saw declines of 27 percent and 48 percent respectively to $403 million and $66 million.

Source: https://www.khmertimeskh.com/50839125/cambodias-construction-sector-fell-in-2020/