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Cement export witnesses 4.52pc decrease during FY 2019-20

Cement export witnesses 4.52pc decrease during FY 2019-20

ISLAMABAD: The cement exports of the country witnessed a decrease of 4.52 percent during fiscal year 2019-20, against the exports of the corresponding period of last year.

The country exported cement worth $259.441 million during July-June (2019-20) against the exports of $271.728 million during July-June (2018-19), according to the Pakistan Bureau of Statistics (PBS) report.

In terms of quantity, the exports of cement increased by 10.79 percent by going up from 6,411,359 metric tons to 7,103,373 metric tons, according to the data.

Meanwhile, on year-to-year basis, the exports of cement increased by 46.52 percent during the month of June 2020 as compared to the same month of last year.

The exports of cement from the country during June 2020 were recorded at $16.935 million against the exports of $11.558 million in June 2019.

On month-on-month basis, the exports of cement decreased by 12.27 percent during June 2020 as compared to the exports of $19.303 million in May 2020, the PBS data revealed.

It is pertinent to mention here that the country s trade deficit witnessed significant reduction during the fiscal year 2019-20 and declined by 27.12% as compared to the corresponding period of last year.

The exports witnessed decrease of 6.81% and reached to $21.394 billion against the exports of $22.958 billion of the same period of last year.

On the other hand, the country s imports witnessed significant decrease of 18.61% and went down from $54.763 billion last fiscal year to $44.574 billion of same period of fiscal year 2019-20.

Based on the figures, the trade deficit during the period under review was recorded at $23.180 billion against the deficit of $31.805 during last year, showing decline of 27.12 percent.