The Large Scale Manufacturing Industries (LSMI) output increased by 3.56 percent in the first four months (July-October) of the current fiscal year 2021-22 compared to the same period of last fiscal year, as almost all major manufacturing sectors posted growth, the data released by the Pakistan Bureau of Statistics (PBS) showed on Thursday.
According to the provisional Quantum Index numbers of the Large Scale Manufacturing Industries (QIM), the LSMI output decreased by 1.19 percent for October 2021 compared to October 2020 and increased by 1.86 percent compared to September 2021.
LSMI Output down by 1.19% YoY during Oct’21
Oct’21: -1.19% YoY; +1.86% MoM
YoY declined witnessed after 16 months (Jun’20: -5.0%)
4MFY22: +3.56% YoY@StateBank_Pak @Hammad_Azhar @Asad_Umar @aliya_hamza @MuzzammilAslam3#Growth #Economy #AHL pic.twitter.com/veZq6rWHDB
— Arif Habib Limited (@ArifHabibLtd) December 16, 2021
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 the OCAC recorded month-on-month growth of 9.82 percent in October 2021 against the previous month and 14.75 percent growth was recorded year-on-year in October 2021 against October 2020.
The data showed that the Ministry of Industries-related sectors witnessed a growth of 3.08 percent in October 2021 against September 2021 on an MoM basis while year-on-year basis, it registered a negative growth of 1.21 percent in October 2021 compared to the same month in 2020.
The PBS data said that the LSM-related data to the BOS month-on-month witnessed a decline of 2.57 percent in October 2021 against the previous month, and on a YoY basis, the BOS witnessed a negative growth of 4.33 percent in October 2021 against October 2020.
The production in July-October 2021-22 compared to July-October 2020-21 has increased in textile, food, beverages and tobacco, pharmaceuticals, cook and petroleum products, chemicals, automobiles, iron and steel products, paper and board, leather products, engineering products, and wood products, while it decreased in non-metallic mineral products, fertilizers, electronics, and rubber products.
Textile, the top contributing sector to the overall large industry output, increased by 0.91 percent, food, beverages, and tobacco 5.15 percent, cook and petroleum products 7.33 percent, pharmaceuticals 6.55 percent, chemicals 3.14 percent, automobiles 37.91 percent, iron and steel products 11.62 percent, leather products 10.49 percent, engineering products 0.81 percent, paper, and board 9.39 percent and wood products 6.56 percent during July-October 2021-22 compared to the same period of 2020-21.
The sectors registering a decline during July-October 2021-22 compared to July-October 2020-21 included non-metallic mineral products 2.66 percent, fertilizers 7.23 percent, electronics 10.92 percent, and rubber products 32.23 percent.
The petroleum products on year-on-year witnessed growth of 7.33 percent as its output increased from 4.644 billion liters in July-October 2020-21 to 4.984 billion liters in July-October 2021-22.
High-speed diesel witnessed 4.98 percent growth in July-October 2021-22 and remained 1.958 billion liters compared to 1.865 billion liters during the same period last year.
Furnace oil witnessed 0.62 percent negative growth in July-October 2021-22 and remained 906.613 million liters compared to 912.290 million liters during the same period last year.
Motor spirit witnessed a growth of 8.58 percent in July-October 2021-22 and remained 1.175 billion liters compared to 1.082 billion liters during the same period last year.
The LPG witnessed 11.62 percent growth in July-October 2021-22 and remained 305.806 million liters compared to 273.969 million liters during the same period last year.
Jet fuel oil witnessed 28.35 percent growth in July-October 2021-22 and remained 232.159 million liters compared to 180.881 million liters during the same period last year.
Kerosene oil witnessed 5.57 percent growth in July-October 2021-22 and remained 48.915 million liters compared to 46.333 million liters during the same period last year.
Sugar production remained zero in July-October 2021-22 and was also zero in July-October last year, as shown by the PBS data. Cement witnessed 2.74 percent negative growth in July-October 2021-22 and remained 15.982 million tonnes compared to 16.433 million tonnes during the same period last year. Tractors witnessed 14.40 percent growth in July-October 2021-22 and remained 17,427 numbers compared to 15,234 during the same period of last year.
Motorcycles witnessed 4.64 percent negative growth in July-October 2021-22 and remained 769,802 compared to 807,230 during the same period last year.