Sri Lanka records increase in cement imports and domestic cement production as construction sector picks up
Sri Lanka’s construction sector is on an upward path with cement imports recording a surge in May 2018 while domestic production has also recorded an increase.
Cement imports have reportedly surged 56 percent from a year earlier to 633,000 metric tonnes in May 2018. Accordingly, the total imports in the first five months have been recorded at 2.3 million metric tones, which is a 1.5 percent increase from a year earlier.
Domestic production has reportedly grown 0.5 percent to 220,000 metric tonnes in May though the 5-month total 1.18 million tonnes was still down 2.6 percent.
According to reports, total imports and production was almost unchanged at 3.42 million metric tonnes up to May.
Up to April domestic production was down 3.3 percent to 898,000 tonnes and imports were down 8 percent to 2.56 million tones, reports have noted.
However, the increase recorded in cement imports and the domestic production notes that the country’s construction sector is back on track.
OSL take:
The increase in cement imports and domestic production indicates opportunities for business in the sale of cement to the local market. Foreign companies engaged in the manufacture of cement could look at penetrating the local market. Also, the increase in cement consumption in Sri Lanka is an indication of the growth in Sri Lanka’s construction sector. It would be a confidence booster for foreign companies looking at engaging in construction work in Sri Lanka.
| Article Code : | VBS/AT/29082018/Z_2 |