Large Scale Manufacturing Declines By 16.5% in July

The Large Scale Manufacturing Industries (LSMI) output decreased by 16.5 percent on a month-on-month (MoM) basis in July 2022 compared to June 2022 and 1.4 percent on a year-on-year (YoY) basis when compared to July 2021, says Pakistan Bureau of Statistics (PBS). According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) the QIM estimated for July 2022 is 110.5 index compared to 112 for July 2021 and 132.3 for June 2022. The LSM data released by the PBS with the base year 2015-16 showed that the main contributors to the overall growth of -1.4 percent are, garments (4.4), iron & steel products (0.6) furniture (2.2), chemical products (0.6), cigarettes (-1.7), cement (-2.8) and fertilizers (-0.7). The production in July 2022 as compared to July 2021 has increased in wearing apparel, paper & board, iron & steel products, and furniture while it decreased in food, textile, tobacco, fertilizers, pharmaceuticals, non-metallic mineral products, and automobiles. The sectors showing growth during July 2022 compared to July 2021 include beverages (0.02 percent), wearing apparel (4.4 percent), leather products (0.1 percent), wood products (0), paper & board (0.5 percent), iron & steel products (0.6 percent), furniture (2.2 percent) and other manufacturing (football) (0.1 percent). The sectors showing decline during July 2022 compared to July 2021 include food (1.2 percent), tobacco (1.7 percent), textile (0.5 percent), coke & petroleum products (0.4 percent), chemicals (0.1 percent), chemicals products (+0.6 percent) and fertilizers (0.7 percent), pharmaceuticals (2.2 percent), rubber products (0 percent), non-metallic mineral products (2.4 percent), fabricated metal (0.1 percent), computer, electronics and optical products (0 percent), electrical equipment (0.1 percent), machinery and equipment (0.3 percent), automobiles (0.3 percent) and other transport equipment (0.2 percent).