July LSMI output down 4.91pc MoM

Islamabad: The Large Scale Manufacturing Industries (LSMI) output decreased by 4.91 percent in July 2021 compared to June 2021, as almost all of the major manufacturing sectors posted a negative growth, data released by the Pakistan Bureau of Statistics (PBS) showed on Wednesday.

According to provisional Quantum Index numbers of Large Scale Manufacturing Industries (QIM), the LSMI output increased by 2.25 percent for July, 2021 compared to July, 2020 and decreased by 4.91 percent when compared with June 2021.

The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) and the Ministry of Industries showed that the OCAC recorded month-on-month growth of negative 5.71 percent in July 2021 against previous month, and negative 3.57 percent growth was recorded year-on-year in July 2021 against July 2020.

The data showed that the Ministry of Industries related sectors witnessed a decline of 6.05 percent in July 2021 against June 2021 on MoM basis, while on year-on-year basis, it registered a growth of 1.40 percent in July 2021 as compared with the same month of 2020.

The PBS data said that LSM-related data to the BOS month-on-month witnessed a decline of 2.35 percent in July 2021 against the previous month and on YoY basis, BOS witnessed a growth of 5.22 percent in July 2021 against July 2020.

The production in July 2021 as compared to July 2020 has increased in textile, food, beverages and tobacco, pharmaceuticals, chemicals, automobiles, iron and steel products, fertilisers, electronics, leather products, engineering products and wood products, while it decreased in coke and petroleum products, on metallic mineral products, rubber products, and paper and board.

July-May 2020-21: Output of LSMI increases by 14.57pc

Textile, the top contributing sector to the overall big industry output, increased by 1.24 percent, food, beverages and tobacco 0.55 percent, pharmaceuticals 9.98 percent, chemicals 13.61 percent, automobiles 44.62 percent, iron and steel products 11.34 percent, fertilisers 3.52 percent, electronics 1.40 percent, leather products 11.72 percent, engineering products 5.55 percent and wood products 24.20 percent during July 2021 compared to the same period of 2020.

The sectors showing decline during July 2021 compared to July 2020 included coke and petroleum products 3.57 percent, non-metallic mineral products 10.44 percent, rubber products 8.82 percent, and paper and board 33.53 percent.

The petroleum products on year-on-year witnessed negative growth of 3.57 percent as its output decreased from 1.204 billion litres in July 2020 to 1.161 billion litres in July 2021.

High-speed diesel witnessed 5.29 percent negative growth in July 2021, and remained 466.558 million liters compared to 492.638 million liters during the same period of last year.

Furnace oil witnessed 15.52 percent negative growth in July 2021 and remained 194.686 million litres compared to 230.465 million litres during the same period of last year.

Motor spirit witnessed negative growth of 1.16 percent in July 2021, and remained 279.597 million liters compared to 282.871 million liters during the same period of last year.

The LPG witnessed 11.41 percent growth in July 2021, and remained 75.009 million liters compared to 67.330 million liters during the same period of last year.

Jet fuel oil witnessed 11.08 percent growth in July 2021, and remained 47.322 million liters compared to 42.603 million liters during the same period of last year.

FY21: LSMI output jumps 14.85pc YoY

Kerosene oil witnessed 2.09 percent decline in July 2021, and remained 14.103 million liters compared to 14.404 million liters during the same period of last year.

Sugar production remained zero in July 2021 and was also zero in July 2020, as shown by the PBS data.

Cement witnessed 10.02 percent negative growth in July 2021, and remained 3.686 billion tonnes compared to 4.100 billion tonnes during the same period of last year.

Tractors witnessed 38.35 percent growth in July 2021, and remained 4,600 numbers compared to 3,325 during the same period of last year.

Motorcycles witnessed 8.22 percent growth in July 2021, and remained 204,734 compared to 189,191 during the same period of last year.

Copyright Business Recorder, 2021