Thursday, September 23, 2021

Cement Exports Witness Decline During Fiscal Year 2019-2020

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ISLAMABAD – Cement Exports Witness Decline During Fiscal Year 2019-2020. The exports of cement from the country witnessed decline of 5.80 percent during the first eight months of the ongoing fiscal year 2019-20. The decline is in comparison to the corresponding period of last year.

According to details, Pakistan exported cement worth US $193.926 million during July 2019 to February 2020. This was against the exports of US $205.865 million during July 2018 to February 2019. It shows a decline of 5.80 percent, according to the Pakistan Bureau of Statistics (PBS).

The PBS data reveals that the cement exports in February 2020 were recorded at $23.790 million against the exports of $21.518 million in February 2019. Meanwhile, on month-on-month basis the export of cement decreased by 4.36 percent in February 2020. As compared to the exports of $24.875 million in January 2019.

It is pertinent to mention here that the country’s merchandise trade deficit plunged by 26.45 percent. This was during the first nine months of the current fiscal year. As compared to the deficit of the same months of last year.

Cement Exports Witness Decline During Fiscal Year 2019-2020.

During the period under review, the country’s exports registered about 2.23 per cent growth. Whereas imports reduces by 14.42 per cent, according the foreign trade statistics, released by the Pakistan Bureau of Statistics.¬†During the period from July-March (2019-20), exports reached to $17.451 billion against the exports of $17.071 billion of the same period of last year, it added.

Meanwhile, the country’s imports witnessed significant decrease of 14.42pc as these went down from $40.679 billion in first nine months of last financial year to $34.814 billion of same period of current financial year, it said.

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