Pakistan exports fall in 5MFY13

During the first five months of FY13-14, Pakistan exported 3.749Mt of cement on foreign exchange revenues of US$225.30m, down 0.44 and 8.03 per cent YoY in terms of volume and value, respectively.

However, on a more positive note, in local currency terms, Pakistan producers and exporters saw growth of 0.93 per cent to PKR23.48bn. The average price fell 7.63 per cent to 7.63 per cent to US$60.09/t from US$65.05/t in the same five months of the previous fiscal.

According to Pakistan’s Bureau of Statistics, in November 2013 alone, Pakistan exported 549,857t and earned foreign exchange revenue of US US$35.80m compared with 620.151t at US $40.86m in October, 2013. This shows that volumes and revenue fell by 11.33 and 12.39 per cent respectively, on MoM a basis.  The decline was also observed on a YoY basis, with volumes falling 33.26 per cent and the value of exports down by 34.68 per cent.

Exports to Afghanistan, traditionally Pakistan’s largest export market, continued to decline. The neighbouring country imported 1.750Mt of cement in 5MFY13/14 and registered a decline of 15.18 per cent. Exports to India were also down 10.14 per cent to 163,499t during the period. However, overseas market registered a growth of over 15 per cent.