Pakistan 1H export volumes and revenue down
Pakistan exports declined both in terms of volume and value in the first six months of the current fiscal, data from the Bureau of Statistics shows. Cement exports totalled 4.206Mt on revenues of US$257.07m compared to 4.681Mt at US$304.31m. This translates into a 10.15 per cent decline in volume and 15.52 per cent fall in dollar value on a YoY basis.
In terms of the Pakistan rupee exports were down by 7.41 per cent to PKR26.88bn over July-December 2012 period. The average export price of cement fell by 5.9 per cent to US$61.11/t from US$64.99/t in the same period of the previous fiscal.
In December 2013, Pakistan exported 502,429t of cement and earned US$32.87m against 549,857t at US$35.80m in November – an 8.63 and 8.17 per cent MoM decline in volume and revenue terms, respectively.
Compared to December 2012 data (916,544t at US$59.35m), imports declined by a staggering 45.18 and 44.60 per cent.
According to the Pakistan Cement Manufacture Association (APCMA), exports to Afghanistan fell by 14.73 per cent to 2.064Mt in the first six months of FY13, while sales to India of 201,822t were down by 3.25 per cent. Exports via sea, on the other hand, rose by 17 per cent.
Indian trade talks
Meanwhile, the APCMA is closely watching recent senior talks between Islamabad and Delhi to promote bilateral trade. Pakistan’s Business community, lead by the Federation of Pakistan and Chambers of Commerce and Industry and other associations, have welcomed successful talks between
Pakistan commerce minister Khurram Dastgir Khan and Indian Trade Minister, Anand Sharma in New Delhi and are now urging them to open other cross-border points for trade, particularly the Monabao-Khokrapar border (Sindh). This will not only enhance bilateral trade but also reduce transportation costs.
They have said that allowing round-the-clock movement of trucks and containers through their main border crossings, liberalising visa policies for businessmen to help expand two-way trade and progress in opening bank branches in each other of the two countries are positive signs.
