Pakistan export volumes and revenues down over first nine months

Pakistan export volumes and revenues down over first nine months
Published: 23 April 2015

Tagged Under: Exports Afghanistan India Iran Pakistan 

Pakistan cement exports in the first nine months of the current fiscal fell 6.75 per cent YoY to 6Mt. Export revenues, meanwhile, were down by 6.86 per cent to US$349.04m over the July 2014-March 2015 period.

In terms of the Pakistan rupee, exports fell by 9.54 per cent to PKR35.31bn and the average price was down to US$58.08m versus US$58.15m in the year-ago period.

In March 2015 alone, Pakistan exported 439,017t of cement on revenues of US$24.99m, representing a MoM decline of 16.38 and 14.82 per cent, respectively. Compared to March 2014 data, the drop was more severe at 41.54 and 41.62 per cent in terms of volume and value, respectively.

Exports to Afghanistan, traditionally Pakistan’s main international market, showed a declining trend with volumes down by 25 per cent YoY to 2.068Mt. On the other hand, exports to India rose by 19.27 per cent to 501,005t, while shipments to Pakistan’s other export markets across the world were up by one per cent overall.

A spokesperson for the All Pakistan Cement Manufacturers Association (APCMA) said that exports have been on a continuous decline during the current fiscal, with the falling volumes to Afghanistan a particular concern  Another major issue impacting Pakistan cement industry is the alleged illegal import of cement from Iran and alleged tax evasions at the import stage through ‘misdeclarations.’

The spokesperson has appealed to the government to take effective steps to protect the local cement industry by including cement in the ‘negative list’ of import items so that the country¹s domestic surplus capacity can be utilised more fully.