Pakistan’s industrial output climbs 2.04 per cent

WEB DESK: Pakistan’s Large-scale Manufacturing Industries (LSMI) witnessed a positive growth trajectory in March 2024, with production showing a commendable increase of 2.04 per cent Year-on-Year (YoY), reaching 115.53 compared to 113.21 in March 2023.

However, on a month-on-month (MoM) basis, the output experienced a notable decline of 9.35 per cent, dropping from 127.44 recorded in February 2024, as reported by the Pakistan Bureau of Statistics (PBS).

Analysing the cumulative performance for the period of nine months of Fiscal Year 2024 (9MFY24), the LSMI sector displayed a slight decrease of 0.1 per cent in comparison to the corresponding period of the previous year.

Notably, within the 9MFY24 timeframe, the major contributors to this marginal decline were Food (0.31), tobacco (-0.66), textile (-1.47), garments (0.77), paper & board (-0.05), petroleum products (0.31), chemicals (0.60), pharmaceuticals (1.08), iron & steel products (-0.11), electrical equipment (-0.24), automobiles (-1.01), and furniture (0.60).

Examining the production trends from July to March of both fiscal years, 2023-24 showed an increase in production across various sectors including food, wearing apparel, coke & petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment, and furniture.

Conversely, a decrease was observed in tobacco, textile, paper & board, non-metallic mineral products, iron & steel products, electrical equipment, automobiles, and other transport equipment.

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