July-April The LSM sector records an increase of 0.45% y/y

ISLAMABAD: The Large Scale Manufacturing (LSM) sector has shown a growth of 0.45 per cent during July-April 2023-24 compared to the same period last year, says the Pakistan Bureau of Statistics (PBS).

LSMI production increased by 5.76%. in April 2024 compared to April 2023 and decreased by 8.14%. compared to March 2024

The Large Scale Manufacturing Industries interim quantum rates for April 2024, with a base year of 2015-16, are based on the latest data provided by the source agencies.

In March, LSMI production increased by 2.04% y/y

According to the provisional quantum index numbers of large manufacturing industries, the LSMI quantum index number (QIM) estimated for April 2024 is 106.35. The QIM estimated for July-April 2023-24 is 116.77.

The main contributors to the overall increase of 0.45 percent are food (0.32), tobacco (-0.54), textiles (-1.29), clothing (0.93), petroleum products (0.49) , chemicals (0.52), pharmaceuticals (0.97), cement (-0.20), iron and steel products (-0.13), electrical equipment (-0.26), cars (-0.86 ) and furniture (0.54).

Production in July-April 2023-2024 compared to July-April 2022-23 increased in food, clothing, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment and furniture, while it decreased in the production of tobacco products, textiles, paper and cardboard, non-metallic mineral products, iron and steel products, electrical equipment, cars and other transportation equipment.

The sectors showing growth during July-April 2023-2024 compared to July-April 2022-2023 are food (1.81%), clothing (6.51%), leather goods (5.45%), products from wood (11.93%), coke and petroleum products (7.58%), chemicals (6.71%), chemical products (-3.09%), fertilizers (13.88%) , pharmaceuticals (19.98%), rubber products (1.36%), machinery and equipment (55.78%), other manufacturing (6.33%) and furniture (21.57%).

The sectors showing decline in July-April 2023-24 compared to July-April 2022-23 are beverages (3.47%), tobacco (28.61%), textiles (7.26%), paper and cardboard (1.27%), non-metallic mineral products (3.77%), iron and steel products (2.75%), metal products (5.98%), computers, electronic and optical products ( 14.66%), electrical equipment (7.89%), cars (33.14%) and other transport equipment (7.15%).

In the case of petroleum products, the growth was 7.58 per cent and their indices increased to 95.17 in July-April 2023-2024 as compared to 88.47 in July-April 2022-2023. The production of petroleum products in April 2024 increased by 2.34%. compared to March 2024 and by 35.73 percent compared to April 2023

High-speed diesel recorded a growth of 12.36% and its production remained at 4.431 billion liters in July-April 2023-2024 compared to 3.943 billion liters in July-April 2022-2023.

Fuel oil production recorded an increase of 16.34% and remained at 2.193 billion liters in July-April 2023-2024 compared to 1.885 billion liters in July-April 2022-2023. Jet fuel oil recorded a negative growth of 10.55% and remained at 672.869 million liters in July-April 2023-2024 compared to 752.216 million liters in July-April 2022-2023.