Pakistan exports decline in first 11 months

Despite a marked increase in shipments to India, Pakistan exports have proved disappointing in the first 11 months of the current fiscal, declining both in volume and revenue terms compared to the same period of last year.

Latest data shows that Pakistan exported 7.792Mt of cement on revenues of US$460.30m during the first 11 months (July 2014 - May 2014) of fiscal FY13-14, a YoY decline of 5.08 and 12.23 per cent, respectively.

The average cement export price fell by 7.05 per cent to US$59.06/t from US$63.99/t in the comparative period of last year.

Similarly, in terms of the Pakistan rupee, exports fell by 6.31 per cent to PKR47.43bn.

On a more positive note, in May 2014 Pakistan exported 785,135t, earning US$45.27m, up 11.76 and 12.43 per cent, respectively, compared to the month before. However, compared to May 2013, exports were down by 18.56 per cent in volume terms and by 18.74 per cent in dollar value.

Afghanistan remained Pakistan's top importer, receiving 3.386Mt during the 11 month period. However, this figure was 17.44 per cent down on the same period of last year. India, on the other hand, demonstrated growth of 36.55 per cent by importing 605,402t during 11FY13-14. Exports to the rest of the world have been growing steadily and increased by 10 per cent YoY to 3.5Mt.

The All Pakistan Cement Manufacturers Association has stressed that the government needs to consider the problems faced by the domestic cement industry at large to make it more competitive in international markets and increase its presence in emerging economies.