Pakistan sees mixed export revenue trend in 7MFY19-20

Pakistan’s exports increased in volume terms over the first seven months of FY19-20, but declined in value terms. Meanwhile, in January 2020 exports increased both in terms of volume and value on a MoM basis.

The country’s cement sector earned US$170.13m by exporting 4.484Mt of cement and clinker between July 2019 – January 2020, compared to US$184.34m from 4.334Mt of exports in the comparative period of a year earlier, according to the country’s Federal Bureau of Statistics. This represents a 7.71 per cent decline in terms of value in dollars, and a 3.47 per cent rise in volumes.

In local currency terms, the export value increased by 10.44 per cent to PKR26.57bn from PKR24.06bn during this period. However, the value per tonne fell from US$42.53/t to US$37.94/t.

However, in January 2020 alone, export revenues recorded a MoM growth to US$24.87m with cement exports of 716,950t, compared to US$21.06m from 528,923t of exports in December 2019. This represents an increase of 18.10 and 35.55 per cent in terms of dollar value and quantity, respectively.

In addition, when compared with data of January 2019 (US$27.34m from 662,636t), mixed trends were observed. The value of exports fell by 9.02 per cent, but increased by 8.20 per cent in terms of quantity.

According to the All Pakistan Cement Manufacturers’ Association, cement exports to Afghanistan rose by 49.76 per cent to 1.538Mt, but exports to India remain suspended.

Cement exports to Pakistan’s other international markets fell by 9.65 per cent. On the other hand, clinker exports continued to perform well, recording growth of 100 per cent with dispatches of over 2.5Mt clinker.