Jul-Feb: Large Scale Manufacturing Industries output dips 5.56% YoY

Large-Scale Manufacturing Industries’ (LSMI) output declined 5.56% during the first eight months (July-February) of 2022-23 when compared with the same period of the previous year, according to latest data released by the Pakistan Bureau of Statistics (PBS) on Monday.

The data released by the PBS with base year 2015-16 showed that the main contributors towards the overall decline of are the following sectors: food (-0.35), tobacco (-0.50), textile (-2.82) garments (3.21), petroleum products (-0.64), cement (-0.77), pharmaceuticals (-1.25) and automobiles (-1.68).

The LSMI Quantum Index Number (QIM) showed LSMI output decreased by 11.59% in February 2023 when compared with February 2022 and by 0.5% when compared with January 2023.

The LSMI QIM estimate for July- February 2022-23 was 116.64, while for February 2023 it was 126.13.

LSMI provisional quantum indices for January 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by source agencies - OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureau of Statistics.

Jul-Jan LSMI output falls 4.40pc YoY

Sectors showing growth during July-February include wearing apparel (35.53%), leather products (3.85%), furniture (58.45%) and other manufacturing (football) (35.81%).

However, production decreased in sectors including food, tobacco, textile, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.