According to the data released by the Pakistan Bureau of Statistics (PBS), the export of cements declined by 7.48% decline during the first half of the current financial year as compared to the corresponding period of last year.
Pakistan exported cement worth $145.265 Mn during the July-December FY20 period against the exports of $157.006 Mn during the corresponding period of FY19.
In terms of quantity, the cement exports grew by 2.59% from 3,671,485 metric tonnes to 3,766,631 metric tonnes.
Year-on-year basis, the exports however plunged by 18.64% during December 2019 as compared to the same month of last year.
The data further revealed that the cement exports in December 2019 were recorded at $21.062 Mn against the exports of $25.888 Mn in December 2018.
Month-on-month basis, the cement exports decreased by 29.31% in December 2019 as compared to the exports of $29.794 Mn in November 2019.
It is pertinent to note here that the country’s merchandise trade deficit plunged by 33.67% during the first six months of FY20 as compared to the deficit of the same month of FY19.
The trade deficit during July-December FY20 was recorded at $11.628 billion against the deficit of $16.771 billion during July-December FY19.
The exports increased from $11.181 Bn during FY19 to $11.535 Bn during FY20, showing a growth of 3.17%.
On the other hand, the imports into the country witnessed 17.13% decline by falling from $27.952 billion in the last fiscal year to $23.163 billion during the current fiscal year.