Tractor production in Pakistan jumps by nearly 46 per cent

WEB DESK: Tractor production in Pakistan saw a significant increase of 45.74 per cent during the financial year ending on June 30, 2024, compared to the previous year, according to the latest data from the Pakistan Bureau of Statistics (PBS).

From July 2023 to June 2024, a total of 46,272 tractors were assembled locally, up from 31,752 tractors produced in the same period of the previous financial year. This data is part of the provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) for June 2024.

The overall Large Scale Manufacturing Industries (LSMI) sector recorded a modest growth of 0.92 per cent during the July 2023 to June 2024 period compared to the same period last year.

However, the LSMI output for June 2024 showed a slight decline of 0.03 per cent compared to June 2023, and a more significant drop of 4.70 per cent when compared to May 2024.

Year-on-year growth in the LSMI sector was observed in several industries, including food, wearing apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment, and furniture.

Conversely, production decreased in industries such as tobacco, textiles, paper and board, non-metallic mineral products, iron and steel, electrical equipment, automobiles, and other transport equipment.

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