Pakistan export earnings up in 11MFY13

During the first 11 months of fiscal FY12-3, Pakistan exported 8.013Mt of cement and earned US$524.68m, up 1.27 per cent and 17.43 per cent, respectively.

These latest figures come from Pakistan’s Federal Bureau of Statistics also show that in terms of local currency, the value of exports surged by 27.51 per cent to PKR50.64bn during July 2012-May 2013. Average export prices also rose by 15.95 per cent to US$65.47/t over the 11 months of the current fiscal compared to US$56.46/t in the comparative period of the previous year.

In May 2013 alone, Pakistan exported 902,724t of cement and earned US$55.65m compared to 588,750t at US$47.90m in the previous month, representing an increase of 53.33 per cent and 16.17 per cent in terms of quantity and value, respectively. Compared with May 2012 data of 897,161t at US$56.37m, export volumes rose by 0.62 per cent but fell by 1.27 per cent in dollar value on a YoY basis.

Afghanistan remained the largest importer of Pakistan cement, accounting for 4.102Mt of sales during 11MFY13, however, this was a fall of 3.85 per cent. Exports to India also dropped 24.88 per cent to 443,340t. However, exports to other markets rose by over 6.15 per cent.

A spokesperson from the All Pakistan Cement Manufacturers Association said he hoped the new government would work on the issue of Non-Trade Barriers with India to increase exports from Pakistan.