Pakistan export revenues down in FY14

Pakistan reported a decline in export revenue in FY14, due in part to lower sales to Afghanistan and a decline in average export prices. Encouraging trends were, however, noted in exports to India and other parts of the world.

Data from the All Pakistan Cement Manufacturers Association shows that total dispatches increased by 2.52 per cent YoY to 34.273Mt.

Exports totaled 8.73Mt on revenues of US$509.46m compared to 9.09Mt at US$577.44m in FY13. This translated to a fall of 3.97 per cent and 11.77 per cent in quantity and value terms, respectively.

 The average export price of cement fell by 8.13 per cent to US$58.34/t from US$63.50/t in the same 12 months of the previous fiscal year. Similarly, in terms of the Pakistan rupee, exports declined 6.4 per cent YoY to PKR52.27bn.

On a more positive note, during June 2014 Pakistan exported 799,458t of cement and earned US$49.15m versus 785,135t at US$45.27m during the previous month, registering a positive growth of 1.82 per cent in terms of quantity and 8.56 percent in terms of value in dollar terms. However, when compared with June 2013 data (882,501t at US$52.98m), a 9.41 per cent decline in volumes and a 7.23 per cent in revenue was recorded.
 
Afghanistan remained the top importer, acquiring 3.65Mt, but revenues were down 17 per cent. Exports to India, on the other hand, rose by 40.05 per cent to 677,306t. The rest of the world imported over 3.8Mt of cement, rising by nine per cent YoY.