Large-Scale Manufacturing Grows 11.7% in FY22

The Large Scale Manufacturing Industries (LSMI) output has registered a growth of 11.7 percent during the last fiscal year 2021-22 (FY22) as compared to the fiscal year 2020-21 (FY21), the Pakistan Bureau of Statistics (PBS) said.

According to the Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) the LSMI output increased by 11.5 percent for June 2022 on a year-on-year (YoY) basis when compared with June 2021 and 0.2 percent on a month-on-month (MoM) basis when compared with May 2022 with the base year 2015-16.

QIM estimated for FY22 is 127.3 and for June 2022 it is 130.9. The production in FY22 as compared to FY21 has increased in food, textile, wearing apparel, chemicals, pharmaceuticals, iron & steel products, automobiles, and furniture while it decreased in rubber products and other transport equipment.

The LSM data released by the PBS with the base year 2015-16 showed the main contributors to the overall growth of 11.7 percent are garments (3.8), liquids/syrups (1.9), sugar (1.7), jeeps & cars (1.3), furniture (1.1), woolen blankets (0.6), chemical products (0.6), billets/Ingots (0.5), and cigarettes (0.4).

Textile, the top contributing sector to the overall big industry output, increased by 3.5 percent, food 8.4 percent, tobacco 15.9 percent, wearing apparel 49.4 percent, chemicals 9 percent, automobiles 49.4 percent, iron and steel products 16.3 percent, leather products 0.8 percent, wood products 115.7 percent, paper and board 10.6 percent, cock and petroleum products 0.7 percent, chemical products 19.4 percent, fertilizers 2.7 percent, machinery and equipment 15.4 percent, furniture 180.2 percent and other manufacturing (football) 43.2 percent during July-June 2021-22 compared to the same period of 2020-21.

The sectors showing a decline during the period under review compared to FY21 included rubber products 15.8 percent, fabricated metal 3.8 percent, and other transport equipment at 11.2 percent.