Pakistan's cement export trend continues to excel in 10MFY23-24

Pakistan's cement export trend continues to excel in 10MFY23-24
21 May 2024

Pakistan’s cement and clinker exports increased by 35.9 per cent in the 10MFY23-24 (July 2023-April 2024) to US$204.54m (5.301Mt), compared to US$150.48m (3.24Mt) in the 10MFY22-23, the Pakistan Bureau of Statistics (PBS) said. In Pakistani rupee terms, export revenue saw a significant growth of 593 per cent to PKR58.21bn during the period, sustained by the local currency’s competitive rates against the US dollar. In addition, export volumes increased by 63.5 per cent YoY in the same period.

The growth in exports can be attributed to the continued good exchange rate of the Pakistani rupee against foreign currency, the fall in coal prices and other factors. In an analyst briefing, a top official of Lucky Cement recently stated that Pakistan saw a surge in exports largely due to the increased viability of exports and the reduction in coal prices. Additionally, improved economic conditions in importing countries, such as Sri Lanka, contributed to increased exports.

April 2024
Export and import data released by PBS revealed that cement and clinker exports in April 2024 registered a growth of 61 per cent MoM to US$25.07m from US$15.57m in March 2024. Volumes saw an advance of 69.3 per cent to 663,426t MoM from 391,957t in March 2024. On a YoY basis, cement exports increased by 66.6 per cent in value from US$15.04m while the export volume rose by 99.3 per cent to 332,859t compared with exports in April 2023.

Published under Cement News