FY22 ends with mixed export dispatches from Pakistan

The Federal Bureau of Statistics (FBS) of Pakistan has released cement export data for July 2021-June  2022. Both value and quantity of exports plummeted during this period when compared with the equivalent months in FY20-21, apparently due to local and external issues. 

Pakistan's cement industry in 12MFY21-22 earned US$223.99m of export revenue by dispatching 5.733Mt of cement and clinker overseas, compared to US$267.91m from 7.815Mt of exports in the year-ago period. The export figures represent a noticeable double-digit fall of 16.4 per cent in dollar terms and 26.6 per cent in terms of volumes YoY, as reported by FBS. The negative trend was also seen in local currency terms, as the export value decreased by 8.5 per cent to PKR39.29bn from PKR42.96bn a year ago.

However, on the contrary, in June 2022 alone, export revenues were up by 73.1 per cent to US$12.8m (267,937t) over May 2022 of US$7.36m (151,133t). The growth in volume stands at 77.3 per cent during this MoM period. At the same time, value and quantity declined by 10.7 per cent and 28.1 per cent if we take into account the June 2021 figure of US$14.32m from 372,880t of cement/clinker.  

The export of cement has declined massively during the last financial year due to the high cost of production. The All Pakistan Cement Manufacturers Association stated that the industry is going through difficult times due to the historically high prices of fuel, electricity, coal and other raw materials. The government should devise a policy to help the cement industry export from Pakistan, said a spokesman of the association.