Pakistan continues to earns mixed revenue in 5MFY20

Pakistan’s cement industry earned foreign exchange revenue of US$124.2m by exporting 3.246Mt of cement and clinker between July and November 2019, compared to US$131.11m from exporting 3.046Mt of cement and clinker in same months last year, says the country’s Federal Bureau of Statistics.

This translates a YoY fall of 5.3 per cent in terms of dollar value but a growth of 6.6 per cent in terms of quantity in first five months of current financial year. However, in local currency terms, the export value increased by 16.7 per cent to PKR19.46bn (US$125.6m) during this period, but value per tonne fell from US$43.03/t to US$38.3/t.

In November 2019 alone, export revenues saw a MoM growth to US$29.79m with cement exports of 800,143t as compared to US$27.63m from exports of 757,839t in October 2019. This translates a growth of 7.8 per cent and 5.6 per cent in terms of dollar value and quantity, respectively.

In addition, when compared with data of November 2018 (US$26.77m at 635,192t), an encouraging trend of 11.3 per cent and 26 per cent in dollar and volume terms, respectively was reported.

While no breakdown in terms of export destinations is available from APCMA, exports to India remain suspended