Tuesday, September 27, 2022
HomeBusinessDuring July 21, the massive manufacturing industry in Pakistan shows growth.

During July 21, the massive manufacturing industry in Pakistan shows growth.

The latest figures released by PBS show a 2.3 per cent year-on-year increase in production of Large Scale Manufacturing Industry (LSMI) during July 21. The LSM index stood at 138.01 during July 21 against 134.97 SPLY. On an annualized basis, OCAC production decreased by 3.6% YoY, while provincial MoI and BOS increased by 1.4% YoY and 5.2% YoY, respectively.

Sector wise increase during Jul’21 was led by;

1. Textile (+1.2% YoY)

2. Food, Beverages and Tobacco (+0.6% YoY)

3. Iron and Steel products (+11.3% YoY)

4. Automobiles (+44.6% YoY)

5. Fertilizer (+3.5% YoY)

6. Pharmaceuticals (+10% YoY)

7. Chemicals (+13.6% YoY)

8. Leather Products (+11.7% YoY)

9. Wood Products (+24.2% YoY)

10. Engineering Products (+5.6% YoY)

Also read: https://www.dawn.com/news/1629082

The categories that witnessed a decline during Jul’21 were:

1. Coke & Petroleum Products (-3.6% YoY)

2. Non Metallic Mineral Products (-10.4% YoY)

3. Paper & Board (-8.8% YoY)

4. Rubber Products (-33.5% YoY)

Also read: https://newscurators.com/care-international-in-pakistan-and-mastercard-launch-ignite-program-to-support-millions-of-entrepreneurs/

During Jul’21, on a monthly basis, all three sub-indices of LSMI showed decline in the monthly growth: OCAC -5.7% MoM, MoI -6% MoM and Provincial BOS -2.4% MoM. To recall, LSMI posted a MoM jump last month (0.4% MoM), after witnessing four consecutive months of negative MoM growth. However, it has yet again entered the negative territory with 5% MoM decline recorded during Jul’21 being fueled by a 15% MoM decrease in Petroleum Products, Cement (-21% MoM), Vegetable Ghee (-14% MoM), to name a few.

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