Pakistan export earnings fall

Pakistan exports have had a disappointing start to the current fiscal, falling 1.98 and 3.46 per cent in terms of quantity and dollar value, respectively on a MoM basis.

During July 2013, Pakistan exported 854,477t of cement and earned US US$51.49m compared to 871,764t at US$53.33m in corresponding month last year, according to data from the country’s Bureau of Statistics.

In terms of the Pakistan rupee, sales were down by 1.6 per cent to PKR5.174bn in July.

However, compared to July 2012, exports increased by 11.91 and 10 per cent on a volume and US dollar basis, respectively.

Afghanistan remained the top importer with 455,897t, but sales observed a fall of 3.18 per cent. India exports stood at 54,233t, a fall of 7.09 per cent.  However, exports to other markets grew by five per cent.

Industry analysts attribute the fall in exports to Afghanistan due to imports of Iranian cement. Meanwhile, the recent announcement by Pakistan’s finance minister that most favoured nation (MFN) status to India will not be considered led to the drop in sales to Delhi. Exports to India also suffered due to non-trade barriers and some border tension, according to industry observers.