Pakistan cement sector's FY19 starts strongly

Pakistan cement industry's FY19 started positively in terms of exports with rises in the first month July 2018. According to the Federal Bureau of Statistics, Pakistan's cement industry earned foreign exchange revenue of US$20.96m by exporting 475,134t of cement last month compared to US$16.31m on 369,506t of cement. This reporesented growth of 28.56 per cent and 28.59 per cent in terms of value and quantity respectively on MoM basis.

In local currency terms growth of 34.38 per cent was seen to PKR2.60bn (US$21.2m). However, compared with July 2017 earnings of US$22.96m on 428,489t of cement it translates to a fall of 6.91 per cent in earning of foreign currency. Quantity rose by 10.89 per cent YoY.