Pakistan’s large-scale manufacturing output increases by 0.99 per cent

WEB DESK: The Pakistan Bureau of Statistics (PBS) has reported a 0.99 per cent increase in the output of Pakistan’s Large-scale Manufacturing Industries (LSMI) for the first eleven months of the fiscal year 2023-24.

This slight growth highlights a mixed performance across various sectors.

In May 2024 alone, the LSMI output saw a significant jump, rising by 7.33 per cent year-on-year compared to May 2023 and 7.52 per cent month-on-month compared to April 2024.

The provisional quantum indices for LSMI were recorded at 113.90 for May 2024 and 116.48 for the eleven-month period of FY 2023-24, using the base year 2015-16.

A sector-wise analysis reveals that production from July 2023 to May 2024, compared to the same period in the previous fiscal year, increased in several industries. Notable gains were observed in Food, Wearing Apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Machinery and Equipment, and Furniture.

Conversely, declines were recorded in other sectors, including Tobacco, Textile, Paper & Board, Non-Metallic Mineral Products, Iron & Steel Products, Electrical Equipment, Automobiles, and Other Transport Equipment.

This data underscores the varied performance within Pakistan’s manufacturing sector, with certain industries driving growth while others face challenges.

Read next: PSX soars to new record high