Pakistan’s Large-Scale Manufacturing Sector Grows 2% in March 2024

The Large-Scale Manufacturing Industries (LSMI) output increased by 2.04 percent for March 2024 compared with March 2023 and decreased by 9.35 percent when compared with February 2024, says Pakistan Bureau of Statistics (PBS). Overall Large Scale Manufacturing Sector has shown a growth of -0.10 percent during July-March 2023-24 when compared with the same period of last year. The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for March 2024, with base year 2015-16, have been developed on the basis of the latest data supplied by the source agencies. According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for March 2024 is 115.53. The QIM estimated for July-March, 2023-24, is 117.88. The main contributors towards overall growth of -0.10 percent are, Food (0.31 percent), Tobacco (-0.66 percent), Textile (-1.47 percent) Garments (0.77 percent), Paper & Board (-0.05 percent), Petroleum Products (0.31 percent), Chemicals (0.60 percent), Pharmaceuticals (1.08 percent), Iron & Steel Products (-0.11 percent), Electrical Equipment (-0.24 percent), Automobiles (-1.01 percent) and Furniture (0.60 percent). The production in July-March 2023-24 as compared to July-March 2022-23 has increased in food, wearing apparel, Coke & Petroleum Products, chemicals, fertilizers, pharmaceuticals, Machinery and Equipment and Furniture, while it decreased in Tobacco, Textile, Paper & Board, Non Metallic mineral products, iron & steel products, electrical equipment, automobiles, and other transport equipment. The sectors showing growth during July-March 2023-24 compared to July-March 2022-23 are food (1.69 percent), wearing apparel (5.41 percent), leather products (5.32 percent),wood products (12.09 percent), coke and petroleum products (4.85 percent), chemicals (7.95 percent), chemicals products (-3.45 percent), fertilizers (16.40 percent), pharmaceuticals (23.19 percent), rubber products (3.60 percent), machinery and equipment (61.54 percent), and furniture (23.13 percent). The sectors showing decline during July-March 2023-24 compared to July-March 2022-23 are beverages (3.43 percent), tobacco (33.59 percent), textile (8.27 percent), paper and board (1.96 percent), non-metallic mineral products (3.89 percent),iron and steel products (2.20 percent), fabricated metal (5.42 percent), computer, electronics and optical products (15.99 percent), electrical equipment (7.47 percent), automobiles (36.41 percent) and other transport equipment (10 percent).