Bangladeshi cement export shows negative trend in 10MFY20

Bangladeshi cement export shows negative trend in 10MFY20
11 May 2020

As per data released by Bangladesh Export Promotion Bureau (EPB), Bangladesh's government recorded a significant fall of 13.1 per cent to US$29.49bn in total exports during the first 10 months of the current FY19-20, against US$33.93bn in the corresponding period of FY18-19.

Exporters and analysts attributed the drop to the closure of factories, lockdown in major export destinations followed by slow demand as well as order cancellations and delays due to the ongoing COVID-19 pandemic. Exports of all commodities, including cement, all declined during this period.

Bangladesh's cement industry has earned an export revenue of US$8.05m in the 10MFY19-20 (July 2019-April 2020), compared to US$8.82m earned in 10MFY18-19, a major contraction of  8.7 per cent YoY. The export figure also includes a small amount of salt, stone and related products, according to the data of Bangladesh Export Promotion Bureau (EPB).

Similarly, the export value for cement decreased by 6.8 per cent against the 10MFY19-20 government target of US$8.64m during this export period.

The EPB had set a lower export target for the cement industry at US$10.5m for FY19-20, compared to US$14m for the previous fiscal year, following a decrease of cement export earnings to U$10.41m in FY18-19.

Cement is reportedly being exported by Bangladeshi cement producers to India, Myanmar, Nepal, Maldives and Sri Lanka.

Published under Cement News