Philippine cement sales driven by reconstruction efforts

According to data from the Cement Manufacturers’ Association of the Philippines (CEMAP), local cement manufacturers sold 5.2 million t of cement in the first quarter of 2014. This represents a 8.6% y/y increase compared to 4.8 million t recorded in the same period a year earlier.

Ernesto M. Ordoñez, President of CEMAP, told local press that the increase in cement sales was primarily due to reconstruction and rehabilitation efforts in the aftermath of Typhoon Yolanda, which caused extensive damage to numerous Philippine provinces in November 2013. The typhoon reportedly resulted in PHP39.82 billion worth of damage and left 6300 people dead. For this reason, the Philippine government increased its infrastructure spending by 37% to PHP404.3 billion from PHP294.7 billion in 2013.

Furthermore, Mr Ordoñez noted that private sector confidence additionally boosted cement sales in the first quarter of 2014. Cement sales grew by 6% in 2013 to 19.4 million t from 18.4 million t in 2012 and this year’s sales are forecast to exceed this figure.

Edited from various sources by Rosalie Starling

Read the article online at: https://www.worldcement.com/asia-pacific-rim/29042014/philippine_cement_sales_driven_by_reconstruction_efforts_100/