Large Scale Manufacturing Growth Decreases in First Two Months of Current Fiscal Year

The Large Scale Manufacturing Industries (LSMI) output has declined by 0.4 percent during the first two months (July-August) of the current fiscal year 2022-23 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS). According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM), the LSMI output increased by 0.6 percent for August 2022 when compared with August 2021 and 3.9 percent when compared with July 2022. The QIM estimated for August 2022 is 114.8 and for July-August, 2022-23 is 112.6. The LSM data released by the PBS with the base year 2015-16 showed that the main contributors towards the overall growth of -0.4 percent are, garments (5.3), petroleum products (-1.2), cement (-2.0), fertilizers (-0.2) and iron & steel products (0.5). The production in July-August 2022-23 as compared to July-August 2021-22 has increased in wearing apparel, chemicals, iron & steel products, and furniture while it decreased in food, beverages, 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-August include wearing apparel (60.9 percent),  leather products (11.5 percent), wood products (4.3 percent), paper & board (6.6 percent), chemicals (2.8 percent), chemicals products (14.7 percent), fertilizers (-0.5 percent), iron & steel products (11.7 percent), furniture (174.1 percent) and other manufacturing (Football) (52.9 percent). The sectors showing decline during food (8.9 percent), beverages (0.5 percent), tobacco (43.5 percent), textile (3.7 percent), coke & petroleum products (16.1 percent), pharmaceuticals (32.3 percent), rubber products (2.9 percent), non-metallic mineral products (19.7 percent), fabricated metal (15.7 percent), computer, electronics, and optical products (5.1 percent), electrical equipment (4.2 percent),  machinery and equipment (38 percent), automobiles (19.7 percent), other transport equipment (30.4 percent).