Business

ISLAMABAD – The exports of cement from the country witnessed an increase of 32.40 percent during the first half of the ongoing fiscal year against the exports of the corresponding period of last year.

The cement exports from the country were recorded at $17.662 million during July-December (2018-19) against the exports of $16.015 million during July-December (2017-18), showing growth of 32.40 percent, according to the data of Pakistan Bureau of Statistics (PBS).

In terms of quantity, the exports of the commodity, however, witnessed a nominal decrease of 0.37 percent by going down from the exports of 11,200 metric tons to 11,159 metric tons, according to the data.

Meanwhile, on a year-on-year basis, the cement exports during December 2018 witnessed an increase of 78.02 percent compared to December 2017. The cement exports in December 2018 were recorded at $25.890 million against the exports of $14.543 million in December 2017.

On a month-on-month basis, the exports of cement, however, witnessed a negative growth of 3.32 percent when compared to the exports of $26.778 million.

It is pertinent to mention here that the overall trade deficit of the country has contracted by five percent to US$ 16.8 billion in July-December (2018-19) against the deficit of US $17.7 billion during the same period of the year 2017-18.

Government’s policy measures have resulted in shrinking of trade deficit, the decline in imports and increase in exports which augurs well for the overall balance of payment of the country.