Large Scale Manufacturing Output Contracts 0.4% in First Half of FY24

The overall Large Scale Manufacturing sector contracted by 0.39 percent during the first half (July- December) of 2023-24 (FY24) when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).

The Large Scale Manufacturing Industries (LSMI) output increased by 3.43 percent for December 2023 when compared with December 2022 and 15.69 percent when compared with November 2023.

According to the provisional quantum index numbers of the large-scale manufacturing industries, the LSMI quantum index number (QIM) estimated for December 2023 is 132.87. QIM estimated for July-December 2023-24 is 115.02.

The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for December 2023 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies.

The main contributors towards overall growth of -0.39 percent are, food (0.76), tobacco (-0.73), textile (-2.05) garments (2.26), paper & board (-0.12), petroleum products (0.55), chemicals (0.30), pharmaceuticals (1.43), cement (0.12), iron & steel products (-0.07), electrical equipment (-0.38), automobiles (-1.70) and furniture (-1.05).

The production in July-December 2023-24 as compared to July-December 2022-23 has increased in food, beverages, wearing apparel, coke & petroleum products, chemicals, fertilizers, pharmaceuticals, non-metallic mineral products, machinery and equipment and other manufacturing (football) while it decreased in tobacco, textile, iron & steel products, electrical equipment, automobiles, other transport equipment and furniture.

The sectors showing growth during July-Dec 2023-24 compared to July-Dec 2022-23 are food (5.11 percent), beverages (3.10 percent), wearing apparel (15.14 percent), leather products (3.34 percent),  wood products (8.84 percent), coke & petroleum products (8.40 percent), chemicals (3.76 percent), chemicals products (-5.18 percent), fertilizers (10.07 percent), pharmaceuticals (31.82 percent), rubber products (0.55 percent), non-metallic mineral products (1.24 percent), machinery and equipment (70.76 percent) and other manufacturing (8.17 percent).

The sectors showing decline during July-Dec 2023-24 compared to July-Dec 2022-23 are tobacco (36.72 percent), textile (10.95 percent), paper & board (5.06 percent), iron & steel products (1.41 percent), fabricated metal (2.23 percent), computer, electronics and optical products (21.13 percent), electrical equipment (10.85 percent), automobiles (52.95 percent), other transport equipment (14.86 percent) and furniture (37.31 percent).

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