Mixed Pakistan export revenue trend in 8MFY23-24

Mixed Pakistan export revenue trend in 8MFY23-24
19 March 2024

Pakistan’s cement industry has registered noticeable growth in the first eight months of FY23-24 (July 2023-February 2024), due to the continued good exchange rate of the Pakistani rupee against foreign currency and other factors.

Pakistan’s cement and clinker exports increased by 39.3 per cent in the 8MFY23-24 to US$163.9m (4.245Mt), compared to US$117.69m (2.473Mt) in the 8MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 71.9 per cent to PKR46.9bn (US$167.8m) during the period, sustained by the local currency’s competitive rates against the US dollar. In addition, export volumes increased by 71.7 per cent YoY in the same period.

February 2024
However, export and import data released by PBS revealed that cement and clinker exports in February 2024 registered a fall of 10.1 per cent MoM to US$13.24m (349,512t) from US$14.72m (390,553t) in January 2024. Volumes saw a contraction of 10.5 per cent on an MoM. The YoY cement export data also shows a negative picture, decreasing by 22.3 per cent in value, and the volume fell by 15.1 per cent compared to data from February 2023 (US$17.05m at 411,512t).

Published under Cement News