ISLAMABAD: The large-scale manufacturing industries (LSMI) output increased by 2.52 percent for August 2023 compared to August 2022 and 8.44 percent compared to July 2023, said Pakistan Bureau of Statistics (PBS) on Monday.
The overall LSM sector has shown a growth of 0.50 percent during July- August 2023-24 compared to the same period of last year.
LSMI output declined by 10.26 percent during fiscal year 2022-23 compared to the same period of 2021-22, according to PBS data.
July LSMI output contracts 1.09pc YoY
According to the provisional quantum index numbers of the large scale manufacturing industries, the LSMI quantum index number (QIM) estimated for August, 2023 is 117.
QIM estimated for July-August, 2023-24 is 112.44.
The provisional quantum indices of LSMI for August 2023 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 & Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).
The main contributors towards overall growth of 0.50 percent are, food (0.82), tobacco (0.29), textile (-4.01) garments (5.16), petroleum products (0.78), chemicals (0.18), pharmaceuticals (2.02), cement (1.45), iron and steel products (-0.13), electrical equipment (-0.78) and automobiles (-1.90), paper & board (-0.19) and furniture (-2.33).
The production in July-August 2023-24 as compared to July-August 2022-23 has increased in Food, wearing apparel, coke & petroleum products, chemicals, pharmaceuticals, rubber products, non-metallic mineral products, machinery and equipment and other manufacturing (football) while it decreased in beverages, tobacco, textile, iron & steel products, electrical equipment, automobiles, other transport equipment and furniture.
The sectors showing growth during July-Aug 2023-24 compared to July-Aug 2022-23; food (7.08 percent), wearing apparel (36.25 percent), coke & petroleum products (12.30 percent), chemicals (2.15 percent), chemicals products (-11.62 percent, fertilizers (12.56 percent),pharmaceuticals (47.82 percent), rubber products (0.82 percent), non-metallic mineral products (20.64 percent),machinery and equipment (9.74 percent),other manufacturing (football) (21.06 percent).
The sectors showing decline during July-Aug 2023-24 compared to July-Aug 2022-23 are; Beverages (0.07 percent), tobacco (20.75 percent), textile (19.07 percent), leather products (0.26 percent), wood products (4.42 percent), paper & board (7.78 percent), iron & steel products (2.42 percent), fabricated metal (2.35 percent), computer, electronics and optical products (29.92 percent), electrical equipment (19.25 percent), automobiles (53.89 percent), other transport equipment (22.78 percent) and furniture (63.01 percent).
Copyright Business Recorder, 2023
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