Cement export decreases 9.77pc during 1st month of current fiscal year

ISLAMABAD: The cement exports witnessed a decrease of 9.77 percent during the first month of current fiscal year 2020-21, against the exports of the corresponding period of last year.

The country exported cement worth $22.925 million during July 2020 against the exports of $25.407 million during July 2019, showing a decline of 9.77 percent, according to the Pakistan Bureau of Statistics (PBS) report.

In terms of quantity, the exports of cement however witnessed increase of 14.08 percent by going up from 643,076 metric tons to 733,592 metric tons, according to the data.

Meanwhile, on month-on-month basis, the exports of cement also grew by 35.35 percent during July 2020 as compared to the exports of $16.937 million in June 2020, the PBS data revealed.

It is pertinent to mention here that the trade deficit during the first month of the current fiscal year dipped by 7.72 percent as compared to the corresponding period of last year.

The trade deficit during July 2020 was recorded at $1.686 billion against the deficit of $1.827 million in July 2019, the data revealed.

During the month under review, the exports from the country increased by 6.10 percent, from $1.886 billion last year to $2.001 billion during the current year.

On the other hand, the imports witnessed negative growth of 0.70 percent by falling from $3.713 billion last year to $3.687 billion this year.