Economy & Market
Cement sales in Phillipines surge
Cement industry in Phillipines witnessed a surge in sales in the first six months of the year behind robust construction activities in the country, according to the Cement Manufacturers Association of the Philippines (CeMAP). The total cement sales rose by 11.1 per cent to 11.9 mt in the first half of 2015 from 10.7 mt in the same period of 2014. Construction activity remained strong in the first half, fuelled primarily by the growing business confidence in the country. For the second quarter of 2015, cement sales grew by 12.5 per cent year-on-year to 6.21 mt. This followed 9.6 per cent growth in the first quarter.
The government has been increasing the budget for infrastructure to address gaps and support economic growth. CeMAP is banking on the increase of construction activities in the country to support higher cement sales.