According to the data released by the Pakistan Bureau of Statistics (PBS), the Large Scale Manufacturing Industries (LSMI) as well as Textile exports have shown steep declining trends on a YoY basis.
The LSMI is down 9.39 percent while textile exports have fallen by 14.72 percent. For LSMI the main contributors towards overall growth of -9.39per cent are, food (-1.52), tobacco (-0.65), textile (-3.53) garments (2.66), petroleum products (- 0.75), chemicals (-0.48), cement (-0.87), pharmaceuticals (-1.41), iron and steel products (-0.22), electrical equipment (-0.44), and automobiles (-1.98).
The petroleum products production witnessed a decline of 11.24per cent during July-April 2022-23 as its indices went down to 88.47 from 99.6784 during July- April 2021-22. High-speed diesel witnessed 14.76per cent negative growth as its output remained 3.943 billion litres in July-April 2022-23 compared to 4.626 billion liters in July-April 2021-22.The country’s textile group exports have witnessed a decline of 19.57 per cent in May 2023 on a year-on-year basis and remained at $1.320 billion when compared to $1.641 billion during the same month of last year. On a month-on-month (MoM) basis, the textile group registered 7.12 percent growth compared to $1.232 billion in April 2023. Cotton yarn exports registered 33.75 per cent negative growth in July-May and remained $737.186 million compared to $1.112 billion during the same period of the last year. On a year-on-year basis, cotton yarn exports registered 5.83 per cent negative growth