Large-Scale Manufacturing Sector Grows 2.38% in July 2024
The Large-Scale Manufacturing (LSM) sector in Pakistan saw a 2.38% increase in output for July 2024 compared to the same month last year, according to the Pakistan Bureau of Statistics (PBS).
The provisional quantum indices for LSM industries, using 2015-16 as the base year, were developed from recent data provided by various agencies, including the OCAC and Ministry of Industries & Production. The LSMI quantum index for July 2024 is estimated at 106.21.
Key contributors to this growth include:
– Food: +0.63%
– Tobacco: +0.81%
– Textiles: +1.48%
– Garments: +1.37%
– Petroleum Products: +0.41%
– Automobiles: +1.01%
Conversely, sectors like pharmaceuticals, cement, and furniture saw declines. Overall, production increased in several areas, including food, beverages, textiles, and automobiles, while it decreased in pharmaceuticals and electrical equipment.
Growth Highlights:
– Tobacco: +90.21%
– Automobiles: +71.96%
– Textiles: +8.43%
– Beverages: +6.75%
Declines Noted:
– Pharmaceuticals: -3.36%
– Furniture: -55.83%
– Electrical Equipment: -19.37%
In petroleum products, July 2024 saw a 5.55% increase, with high-speed diesel output growing by 7.78%. However, kerosene oil experienced a significant decline of 31.46%.
This mixed performance across various sectors highlights the ongoing dynamics within Pakistan’s manufacturing landscape. What are your thoughts on these trends?
