Cement export revenue totals US$150m in 10MFY22-23

Cement export revenue totals US$150m in 10MFY22-23
23 May 2023

The cement industry in Pakistan experienced a mixed trend in export revenue during the first 10 months of the current financial year, which runs from July 2022 to June 2023. While the amount of revenue earned in US dollars decreased, it actually improved in terms of the Pakistani rupee due to the currency's devaluation. 

Based on the latest data from the Federal Bureau of Statistics (FBS), the cement industry's export earnings for the 10MFY22-23 amounted to US$150.487m, with 3.242Mt of cement and clinker exported. This is a decrease from the previous year's earnings of US$203.836m and 5.314Mt exports, indicating a decline of 26.2 per cent in value and 39 per cent in volumes. FBS also noted that in local currency terms, export earnings experienced a growth of 3.7 per cent YoY, amounting to PKR36.55bn (US$129m).

On a mixed trend note, during April 2023 alone, export revenues decreased to US$15.049m on shipments of 332,850t from US$17.748m on 436,070t in March 2023. This translates to a 15.2 per cent MoM contraction in value terms and 23.7 per cent in volume. However, exports rose by 237.1 per cent YoY in value and 285 per cent in quantity compared to export figures of US$4.46m on 86,449t in April 2022.

Published under Cement News