Bangladesh has reported 43.9 per cent YoY growth in cement export revenue to US$12.52m in the first 11MFY22-23 (July 2022-May 2023). This compares to US$8.7m in the same period a year earlier.
The value of the target set for this period also saw a hefty growth of 26 per cent. According to the Bangladesh Export Promotion Bureau (EPB), this figure includes minor amounts of salt, stone and related products. Most of the cement exports were shipped to neighbouring countries.
For the full FY22-23, ending 31 June 2023, Bangladesh has set a cement export revenue target of US$11m, up from the US$9.57m earned in the same period in the previous year. This would translate to YoY growth of 15 per cent, according to the EPB.
According to industry insiders, most of the cement exported from Bangladesh, especially its northeastern states, goes to India. In addition, Bangladeshi cement is popular in Nepal, Sri Lanka and the Maldives. Among experts, MI Cement accounted for 50 per cent of total exports in the past.
Bangladesh's total merchandise export revenue, including cement, reached US$50.52bn in the 11MFY22-23, 7.11 per cent up on the US$47.17bn seen in the previous year. Amid the foreign exchange crisis, the export sector brought good news for forex reserves.
