Bangladeshi cement export shows negative trend in 10MFY20

12 May 2020 9:42 AM
According to data released by Bangladesh Export Promotion Bureau (EPB), Bangladesh's government recorded a substantial fall of 13.1 % to US$29.49bn in total exports through the first 10 months of the current FY19-20, against US$33.93bn in the corresponding amount of FY18-19.

Exporters and analysts attributed the drop to the closure of factories, lockdown in major export destinations accompanied by slow demand in addition to order cancellations and delays because of the ongoing COVID-19 pandemic. Exports of most commodities, including cement, all declined during this period.

Bangladesh's cement industry has earned an export earnings of US$8.05m in the 10MFY19-20 (July 2019-April 2020), in comparison to US$8.82m earned in 10MFY18-19, a major contraction of  8.7 % YoY. The export figure also includes a tiny amount of salt, stone and related products, in line with the data of Bangladesh Export Promotion Bureau (EPB).

Similarly, the export value for cement decreased by 6.8 % against the 10MFY19-20 government target of US$8.64m in this export period.

The EPB had set less export target for the cement industry at US$10.5m for FY19-20, in comparison to US$14m for the prior fiscal year, carrying out a loss of cement export earnings to U$10.41m in FY18-19.

Cement is reportedly being exported by Bangladeshi cement producers to India, Myanmar, Nepal, Maldives and Sri Lanka.