Exports of cement boom as local sales fall

Exports of cement rose by 19.1% year on year in the first seven months of the year, to total 95.857 tonnes, according to the latest data from the Statistical Service.

In the May-July period, exports rose even faster, by 132% compared with the same period of the previous year.

The boom in exports has somewhat made up for the downturn in the much larger category of local sales.

Local sales rose by just 2.8% year on year in January to July to 1.04 mln tonnes.

Moreover, in the May-July period they declined year on year by 4.9%.

The fall in cement sales suggests a slowdown in construction, although this may soon change, following the sharp drop in interest rates in May and June.

The number of building permits authorised in May was stagnant compared with the same month of 2004, but the value of building permits and the area to be constructed rose sharply.

Fiona Mullen