Large Scale Manufacturing Output Declines by 14% in May

The Large Scale Manufacturing Industries (LSMI) output has decline by 9.87 percent during July-May 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 the Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 14.37 percent for May, 2023 when compared with May, 2022 and increased by 5.88 percent when compared with April 2023. The LSMI Quantum Index Number (QIM) was estimated for May, 2023 is 110.60. QIM estimated for July-May, 2022-23 is 115. The provisional quantum indices of LSMI for May 2023 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e. the OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaus of Statistics (BoS). The main contributors towards overall growth of -9.87 percent are, food (-1.30), tobacco (-0.63), textile (-3.66) garments (2.58), petroleum products (-0.81), chemicals (-0.54), cement (-0.76), pharmaceuticals (-1.59), iron & steel products (-0.22), electrical equipment (-0.49) and automobiles (-2.08). The production in July-May 2022-23 as compared to July-May 2021-22 has increased in wearing apparel, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment. The sectors showing growth during July-May include wearing apparel (25.56 percent), leather products (1.92), furniture (32.58 percent) and other manufacturing (football) (31.33 percent). The sectors showing decline during the July-May include food (7.54 percent), beverages (4.13 percent), tobacco (27.08 percent), textile (18.58 percent), wood products (62.05 percent), paper and board (6.92 percent), coke and petroleum products (12.33 percent), chemicals (7.20 percent), chemicals products (4.23 percent increased), fertilizers (9.24 percent), pharmaceuticals (26.15 percent), rubber products (8.37 percent), non-metallic mineral products (10.77 percent), iron and steel products (4.76 percent), fabricated metal (15.63 percent), computer, electronics and optical products (29.14 percent), electrical equipment (14.24 percent), machinery and equipment (45.78 percent), automobiles (47.70 percent), other transport equipment (39.62 percent).