Bangladesh cement exports surpass target by 20.7% in 9MFY23

Bangladesh has reported 48.7 per cent YoY growth in cement export revenue to US$9.68m in the 9MFY22-23 (July 2022-March 2023). This compares to US$6.51m in the same period a year earlier. 

The value of the target set for this period also saw a healthier growth of 20.7 per cent. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Most of the cement exports were shipped to neighbouring countries.

For the full FY22-23, ending 31 June 2023, Bangladesh has set a cement export revenue target of US$11m, up from the US$9.57m earned in the same period in the previous year. This would translate to YoY growth of 15 per cent, according to the EPB.

A brief note from Bangladesh Cement Manufacturers Association mentioned on the website that there are currently about 14 companies exporting. According to industry insiders, most of the cement exported from Bangladesh goes to India, especially its northeastern states. In addition, Bangladeshi cement is popular in Nepal, Sri Lanka and the Maldives. Among experts, MI Cement accounted for 50 per cent of total exports in the past.

Bangladesh's total merchandise exports revenue, including cement, reached US$41.72bn in the 9MFY22-23, 8.1 per cent up on the US$38.604bn seen in the corresponding year period earlier.