Pakistan export volumes and revenues fall

Pakistan export volumes have seen a decline in the first nine months of the current fiscal both in terms of volumes and dollar value. However, latest monthly figures show a significant increase in exports to India.

For the July 2013 – March 2014 period, Pakistan exported 6.123Mt of cement on revenues of US$374.78m compared to 6.522Mt at US$421.12m in the comparative period of the previous year. This translates to YoY declines of 6.11 and 11.11 per cent in terms of quantity and value, respectively.

In terms of the Pakistan rupee, exports fell 3.5 per cent to PKR23.04bn. The average cement export price declined by 5.2 per cent to US$61.2/t from US$64.56/t in the same nine months of the previous fiscal.

March monthly gains
On a more positive note, in March alone exports increased by 11.52 per cent to 611,286t compared to the month before, on revenues that were 17.19 per cent higher at US$36.52m. However, on an annual basis, exports volumes and revenue fell 14.09 and 3.61 per cent, respectively, compared to March 2013.

Indian increases
Despite the declines, a spokesperson from the All Pakistan Cement Manufacturers Association said that a substantial increase in export to India was recorded during March 2014 to 128,000t compared to 51,000t in February 2014 and 55,000t in March 2013.

During the first nine months of the current Pakistan fiscal, exports to India have increased by 28.4 per cent to 420,000t. However, shipments to Pakistan’s main export market of Afghanistan have fallen by 16.44 per cent to 2.76Mt in 9MFY14. Exports to other destinations via sea have risen by 12 per cent. orts to that country.