State Bank of Pakistan reveals a rise in cement exports in FY23-24

State Bank of Pakistan, the country’s central bank, released its state of economy 2023-24 on 17 October 2024. The annual report included the cement industry in Pakistan. It stated that cement production declined by 4.5 per cent in FY23-24, significantly lower than 13.7 per cent in FY22-23. The decline was largely due to a fall in domestic cement dispatches, which could be associated with rising prices. Yet, the cement export, on the other hand, experienced a notable increase from 4.6Mt in FY22-23 to 7.1Mt in FY23-24.

The State Bank estimated cement exports of US$267m in FY23-24, compared to US$190m in the previous year. There were increased dispatches to Afghanistan, Bangladesh, Sri Lanka and Africa, mainly due to the resumption of construction activity in Afghanistan and Sri Lanka. Moreover, the domestic cement industry has increased its presence in the African and US markets, resulting in higher export orders.

Pakistan has started exporting cement to the US, owing to increased demand due to the government’s higher spending on infrastructure.

By Abdul Siddiqui, Pakistan