Large Scale Manufacturing Contracts 7.9% in January

The Large Scale Manufacturing Industries (LSMI) output has declined by 4.40 percent during the first seven months (July-January) of the fiscal year 2022-23 (FY23) compared with the same period of last year, says the Pakistan Bureau of Statistics.

According to the provisional Quantum Index numbers (QIM) of the Large Scale Manufacturing Industries, the LSMI output decreased by 7.9 percent for January 2023 when compared with January 2022 and increased by 1.48 percent when compared with December 2022.

The LSMI Quantum Index Number (QIM) was estimated for July-January, 2022-23 at 115.45, while it was estimated for January 2023 at 126.85.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for January 2023 with the base year 2015-16 have been developed on the basis of latest data supplied by the source agencies i.e. OCAC, Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS).

The LSM data released by the PBS with base year 2015-16 showed that the main contributors towards the overall growth of 4.40 percent are, food (-0.32), tobacco (-0.55), textile (-2.71) garments (3.81), petroleum products (-0.69), cement (-0.86), pharmaceuticals (-1.22) and automobiles (-1.55).

The production in July-January 2022-23 as compared with July-January 2021-22 has increased in wearing apparel, furniture and other manufacturing (football) while it decreased in food, tobacco, textile, coke & petroleum products, pharmaceuticals, chemicals, non-metallic mineral products, machinery and equipment, automobiles and other transport equipment.

The sectors showing growth during July-January include wearing apparel (44.47 percent), leather products (4.98), furniture (73.80 percent) and other manufacturing (football) (48.26 percent).

The sectors showing decline during the July-January include food (1.90 percent), beverages (7.38 percent), tobacco (21.69 percent), textile (13.21 percent), wood products (67.81 percent), paper and board (3.80 percent), coke and petroleum products (9.86 percent), chemicals (3.58 percent), chemicals products (1.04 percent increased), fertilizers (5.31 percent), pharmaceuticals (21.92 percent), rubber products (7.68 percent), non-metallic mineral products (10.22 percent), iron and steel products (3.11 percent), fabricated metal (13.97 percent), computer, electronics and optical products (22.83 percent), machinery and equipment (51.92 percent), automobiles (34.85 percent), other transport equipment (38.49 percent).

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