Pakistan sees strong increase in August export growth

Pakistan sees strong increase in August export growth
Published: 26 September 2014

Tagged Under: Pakistan Asia India Afghanistan 

Pakistan recorded an acceleration in exports during August 2014 against the previous month and were also higher on an annual comparative basis. 

Exports during August 2014 reached 984,039t – a rise of 76.62 per cent compared to the month before. Revenues were also 76.84 per cent higher at US$57.648m compared to July 2014.

On an annual  basis, volumes and revenues increased by 23.42 per cent and 28.74 per cent, respectively,

July-August 2014 data
However, exports during the first two months of the current fiscal fell 71.5 per cent YoY to 1.541Mt versus 1.659Mt in 2MFY13-14. Export revenues were down by 6.2 per cent to US$90.24m in the July-August 2014 per cent compared to US$96.21m the same period of last year.

On a more positive note, the average export price of cement increased by 0.57 per cent to US$58.55/t from US$57.96/t a year earlier.

Afghanistan remained the top importer of Pakistan cement over the two-month period, but exports were down by 35.01 per cent to 482,528t. Exports to India, on the other hand, rose by 71 per cent, reaching 140,131t. Exports to other markets from Pakistan increased by 18 per cent.

Healthy growth
A spokesperson from the All Pakistan Cement Manufacturers Association said the cement sector had posted healthy growth in August 2014, both in terms of exports and domestic shipments despite political uncertainty in the country. The high level of export growth witnessed in August after a long time is also encouraging.