KARACHI: The country’s total cement exports have increased by 1.9 per cent to $229.8m during July-November of fiscal year 2014 against $225.6m of the same period of previous year.
Pakistan Bureau of Statistics (PBS) data shows that on YoY and MoM basis, the cement exports in November 2014 also surged by 28.06 per cent and 25.7 per cent against November 2013 and October 2014, respectively.
Industry sources estimate local dispatches in 1HFY15 to stand at 13Mt, as compared to 12Mt in 1HFY14, up nine per cent. They said that during the pre-economic crisis era, local cement sales were growing 15 per cent annually versus 6.2 per cent average GDP growth. Volumetric growth, however, remained sluggish at an average 2.8 per cent during last six years, in line with low GDP growth of three per cent.
With a strong economic recovery in Pakistan, it is expected that average GDP will grow at 5 per cent in next three years, which could lift local cement sales.
