The Large-Scale Manufacturing (LSM) sector in Pakistan saw a 2.38 percent increase in output in July 2024 compared to the same month in 2023, according to the Pakistan Bureau of Statistics (PBS). However, the LSMI output saw a decline of 2.08 percent when compared to June 2024.
The provisional quantum indices for July 2024, based on the base year 2015-16, were developed using data from various sources, including the Oil Companies Advisory Council (OCAC), the Ministry of Industries & Production, the Ministry of Commerce, and Provincial Bureaux of Statistics (BoS). The LSMI quantum index number (QIM) for July 2024 was estimated at 106.21.
Key contributors to the overall growth of 2.38 percent included sectors such as food (0.63), tobacco (0.81), textiles (1.48), garments (1.37), petroleum products (0.41), and automobiles (1.01). However, some sectors experienced declines, including pharmaceuticals (-0.23), cement (-0.38), iron & steel products (-0.70), electrical equipment (-0.69), and furniture (-1.36).
Compared to July 2023, production increased in sectors such as food, beverages, tobacco, textiles, wearing apparel, leather products, wood products, paper & board, coke & petroleum products, chemicals, computer, electronics and optical products, automobiles, other transport equipment, machinery and equipment, and other manufacturing (football).
Conversely, declines were noted in pharmaceuticals, rubber products, non-metallic mineral products, iron and steel products, fabricated metal products, electrical equipment, machinery and equipment, and furniture.
Notable growth was observed in the tobacco sector, which surged by 90.21 percent, and the automobile sector, which increased by 71.96 percent. Other sectors showing growth included beverages (6.75 percent), textiles (8.43 percent), and wearing apparel (9.59 percent).
On the downside, the furniture sector saw a significant decline of 55.83 percent, while electrical equipment dropped by 19.37 percent. Other sectors experiencing declines included pharmaceuticals (3.36 percent), rubber products (16.02 percent), and non-metallic mineral products (12.94 percent).
In the petroleum sector, products witnessed a 5.55 percent increase, with high-speed diesel output growing by 7.78 percent to 463.069 million liters in July 2024 compared to 429.66 million liters in July 2023. Furnace oil output rose by 3.35 percent, while kerosene oil saw a significant negative growth of 31.46 percent.
Cement production experienced a 6.63 percent decline, with output at 2.730 million tonnes in July 2024 compared to 2.924 million tonnes in July 2023, and a further decrease of 12.70 percent compared to June 2024.
