Pakistan’s Large-Scale Manufacturing Output Grows 7.33% in May 2024

The Large-Scale Manufacturing (LSM) sector has shown a growth of 0.99 percent during July-May 2023-24 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS). The LSMI output increased by 7.33 percent for May 2024 when compared with May 2023 and 7.52 percent when compared with April 2024. The provisional quantum indices of Large Scale Manufacturing Industries for May 2024, with the 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 May 2024 is 113.90. QIM estimated for July-May, 2023-24 is116.48. The main contributors towards overall growth of 0.99 percent are, Food (0.29), Tobacco (-0.46), Textile (-1.07) Garments (1.33), Non Metallic Mineral Products (-0.30), Petroleum Products (0.54), Chemicals (0.45), Pharmaceuticals (0.87), Iron & Steel Products (-0.18), Electrical Equipment (-0.27), Automobiles (-0.73) and Furniture (0.51). The production in July-May 2023-24 as compared to July-May 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-May 2023-24 compared to July-May 2022-23 are food (1.68 percent), wearing apparel (9.33 percent), leather products (5.59 percent), wood products (12.02 percent), coke and petroleum products (8.40 percent), chemicals (5.81 percent), chemicals products (-3.38 percent), fertilizers (12.52 percent), pharmaceuticals (17.54 percent), machinery and equipment (46.93 percent), other manufacturing (7.29 percent), and furniture (21.27 percent). The sectors showing decline during July-May 2023-24 compared to July-May 2022-23 are beverages (3.51 percent), tobacco (24.26 percent), textile (6.04 percent), paper and board (1.34 percent), non-metallic mineral products (4.46 percent), iron and steel products (3.75 percent), fabricated metal (6.96 percent), computer, electronics and optical products (13.57 percent), electrical equipment (8.36 percent), automobiles (28.73 percent), and other transport equipment (4.88 percent). The petroleum products witnessed an increase of 8.40 percent as its indices went up to 95.39 during July-May 2023-24 compared to 88 during July-May 2022-23. Petroleum products production witnessed a decrease of 8.07 percent in May 2024 when compared to April 2024 and 17.17 percent increase when compared to May 2023. High-speed diesel witnessed 13.50 percent growth as its output remained 4.905 billion liters in July-May 2023-24 compared to 4.321 billion liters in July-May 2022-23. Furnace oil witnessed 18.44 percent growth in output and remained 2.428 billion liters in July-May 2023-24 compared to 2.050 billion liters in July-May 2022-23. Jet fuel oil witnessed a negative growth of 9.57 percent and remained 737.839 million liters in July-May 2023-24 compared to 815.936 million liters in July-May 2022-23.