In almost a decade, large scale manufacturing (LSM) growth contracted to 3.64% in the last fiscal year, which ended in June 2018-19.
According to the data, there was a sharp decline in all the major industries production as the country is seeing an overall economic slowdown. Last time in the fiscal year 2008-09, the LSM had contracted 6% in the aftermath of global economic meltdown.
The sector that accounts for 80 percent of aggregate industrial outputs grew 5.28 percent in the fiscal year 2017/18, according to the Pakistan Bureau of Statistics (PBS).
A contraction in LSM growth reflected a fall in overall economic growth at 3.3 percent during the last fiscal year compared with a decade high of 5.5 percent in the preceding fiscal year. The real GDP growth is expected in the range of 3.5 to 4 percent in the current fiscal year.
Higher inflation, due to currency depreciation and imposition of indirect taxes, has also adversely affected the purchasing power of people.
According to data released by PBS, out of 15 major sectors, six registered some growth and nine saw a contraction in the outgoing fiscal year.
Oil Companies Advisory Council, logging outputs of 11 oil and petroleum products, measured 8.4 percent year-over-year fall in outputs during the last fiscal year.
Ministry of industries, measuring output trend of 36 items, recorded a 4.22 percent decline in production. Provincial bureau of statistics, counting production of 65 products, logged a 1.07 percent decline.
The production in July-June 2018-19 as compared to July-June 2017-18 has increased in Fertilizers and Electronics while it has significantly decreased in Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Non Metallic Mineral Products, Automobiles and Iron & Steel Products.
In FY2019, production increased in fertilisers (0.38 percent) and electronics (0.44 percent), while it significantly decreased in food, beverages and tobacco (1.49 percent), coke and petroleum products (0.53 percent), pharmaceuticals (0.63 percent), non-metallic mineral products (0.27 percent), automobiles (0.89 percent) and iron and steel products (0.5 percent).
You can further see the data over here.
The article would have been complete indicating the trade deficit quoting state Bank of Pakistan. There is no mention of manufacturers exporting. Clothing and apparel sector is not mentioned at all. There is a slight bias in the expression and the word slight is used to give the writer benefit of the doubt.