The Large Scale Manufacturing Industries (LSMI) output increased by 2.25 percent for July 2021 compared to July 2020 and decreased by 4.91 percent when compared with June 2021, data released by the Pakistan Bureau of Statistics (PBS) showed on Wednesday.
According to provisional Quantum Index numbers of Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 4.91 percent in July 2021 compared to June 2021, as almost all of the major manufacturing sectors posted negative growth.
The LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC), and the Ministry of Industries showed that OCAC recorded month on month growth of negative 5.71 percent in July 2021 against the previous month and negative 3.57 percent growth was recorded year on year in July 2021 against July 2020.
The data showed that the ministry of industry-related sectors witnessed a decline of 6.05 percent in July 2021 against June 2021 on an MoM basis, while year on year basis, it registered a growth of 1.40 percent in July 2021 compared with the same month of 2020.
The PBS data said that LSM witnessed a decline of 2.25 percent in July 2021 against the previous month, and on a YoY basis, witnessed a growth of 5.22 percent in July 2021 against July 2020.
The production in July 2021 as compared to July 2020 has increased in textile, food, beverages and tobacco, pharmaceuticals, chemicals, automobiles, iron and steel products, fertilizers, electronics, leather products, engineering products, and wood products while it decreased in coal and petroleum products, non-metallic mineral products, rubber products, and paper and board.
Textile, the top contributing sector to the overall big industry output, increased by 1.24 percent, food, beverages, and tobacco 0.55 percent, pharmaceuticals 9.98 percent, chemicals 13.61 percent, automobiles 44.62 percent, iron and steel products 11.34 percent, fertilizers 3.52 percent, electronics 1.40 percent, leather products 11.72 percent, engineering products 5.55 percent and wood products 24.20 percent during July 2021 compared to the same period 2020.
The sectors showing decline during July 2021 compared to July 2020 included coal and petroleum products registering a decline of 3.57 percent, non-metallic mineral products of 10.44 percent, rubber products of 8.82 percent, and paper and board of 33.53 percent.