Jul-Nov LSMI output declines 3.58pc YoY
- As per provisional Quantum Index numbers (QIM) of the Large Scale Manufacturing Industries, the LSMI output decreased by 5.49 percent for November 2022
ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 3.58 percent during the first five months (July-November) of 2022-23 when compared with the same period of last year, says the Pakistan Bureau of Statistics.
According to the provisional Quantum Index numbers (QIM) of the Large Scale Manufacturing Industries, the LSMI output decreased by 5.49 percent for November 2022 when compared with November 2021 and increased by 3.55 percent when compared with October 2022.
The LSMI Quantum Index Number (QIM) was estimated for July-November, 2022-23 at 111.41, while it was estimated for November 2022 at 112.30.
The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for November 2022 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies i.e. OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).
The LSM data released by the PBS with base year 2015-16 showed that the main contributors towards overall growth of -3.58 percent are food (-1.02 percent), tobacco (-0.57 percent), textile (-2.47 percent) garments (4.46 percent), petroleum products (-1.02 percent), cement (-1.16 percent), pharmaceuticals (-1.34 percent), and automobiles (-1.27 percent).
The production in July-November 2022-23 as compared to July-November 2021-22 has increased in wearing apparel, leather products, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke & petroleum products, pharmaceuticals, rubber products, non-metallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles and other transport equipment.
The sectors showing growth during July-November include wearing apparel (51.48 percent), leather products (8.18 percent), electrical equipment (1.06 percent), furniture (99.29 percent) and other manufacturing (football) (59.68 percent).
The sectors showing decline during the July-November include food (7.78 percent), beverages (5.42 percent), tobacco (22.32 percent), textile (11.45 percent), wood products (63.61 percent), paper and board (2.84 percent), coke and petroleum products (13.63 percent), chemicals (0.73 percent), chemicals products (1.66 percent increased), fertilizers (2.38 percent), pharmaceuticals (23.22 percent), rubber products (9.06 percent), non-metallic mineral products (12.35 percent), iron and steel products (0.87 percent), fabricated metal (18.23 percent), computer, electronics and optical products (17.17 percent), wood products (63.61 percent), machinery and equipment (41.17 percent), automobiles (28.73 percent), other transport equipment (41.76 percent). The petroleum products production witnessed a decline of 13.63 percent during July-November 2022-23 as its indices went down to 88.36 from 102.31 during July-November 2021-22. On month-on-month, petroleum products registered a 5.26 percent increased in November 2022.
High-speed diesel witnessed 15.16 percent negative growth as its output remained 2.001 billion litres in July-November 2022-23 compared to 2.359 billion liters in July-November 2021-22.
Furnace oil witnessed 12.98 negative growth in output and remained 961.284 million litres in July-November 2022-23 compared to 1.105 billion litres in July-November 2021-22. Jet fuel oil witnessed a growth of 21.75 percent and remained 371.165 million litres in July-November 2022-23 compared to 304.859 million litres in July-November 2021-22.
Kerosene oil witnessed 36.73 percent negative growth in July-November 2022-23 and remained 38.835 million litres compared to 61.375 million litres.
Copyright Business Recorder, 2023