Cambodia's "steel demand" is expected to continue to grow

The General Administration of Customs of Cambodia recently released a report that in the first four months of this year, the total amount of steel imports in Cambodia reached 129.04 million US dollars, accounting for 1.63% of the total import amount in Cambodia, an increase of 7.78% year-on-year. More relevant data shows that Cambodia's apparent steel consumption (ASU) was 450000 tons in 2019 and 270000 tons in 2020. However, some scholars believe that the above apparent consumption is lower than Cambodia's actual data.

In 2021, the total population of Cambodia was 16.95 million, accounting for approximately 2.5% of the total population of ASEAN. In recent years, the number of working age population in Cambodia has been increasing, and the country is still in the early stage of Demographic dividend. It can be expected that the gradual entry of Cambodia's young population into the labor market is expected to assist the development of the domestic industry and drive economic growth.

In Cambodia, the steel industry is not an important industry. The construction industry is the largest steel consuming industry in Cambodia. Automotive parts have become the industry with the best development prospects.