Pakistan export earnings rise in first two months

Pakistan cement exporters have had a good start to the current fiscal, with volumes and earnings up on an annual basis.

During July and August 2013, Pakistan exported 1.62Mt of cement on revenues of US$96.79m compared to 1.4446Mt at US$91.55m, representing a rise of 12.03 and 5.72 per cent in volumes and US dollar value, respectively.

In terms of the Pakistan rupee, the export value rose 13.79 per cent to PKR9.83bn during the two-month period. However, the average export price was down by 5.62 per cent to US$59.73/t from US$63.29/t in the same period of last year.

In August alone, exports fell 765,917t (US$45.30m) from 854,477t (US$51.49m) in July 2013, down 10.36 and 12.3 per cent, respectively on a MoM basis. However, compared with August 2012 data, export volumes rose by 12.16 per cent and by 1.24 per cent in terms of value.

As usual, Afghanistan was the top importer but quantities to this neighbouring market fell by 11.79 per cent to 743,753t. Exports to India rose by 8.11 per cent to 81,928t. Sales to other export markets rose by 12 per cent on an annual basis.

A spokesman of the All Pakistan Cement Manufacturers Association noted that the recent increase in power tariffs and fuel prices had impacted input and transportation costs, putting further pressure on local cement producers. Nevertheless, the industry remains hopeful that domestic demand will increase post-monsoon season.