LSMI output down by 8 percent for July-March 2023

Pakistan Bureau of Statistics (PBS) uploaded the Large Scale manufacturing industries LSMI output data for the time period of July-March 2023. The output has been decreased as compared to the same period last year and the decrement is recorded to be of almost 8.11 percent.

When compared to March 2022, LSMI output decreased by 24 percent in March 2023 and decreased by 9.09 percent during February 2023 as compared to the same month last year.

The LSMI data for March 2023 has been developed on the basis of the data provided by OCAC, Ministry of Industries and Production, Ministry of Commerce and PBS. The main contributors to the overall decline recorded by the PBS include food (-1.62 percent), tobacco (-0.57 percent), textile (-3.16 percent) garments (2.94 percent), petroleum products (-0.68 percent), cement (-0.85 percent), pharmaceuticals (-1.30 percent), and automobiles (-1.85 percent).

The industries which have shown an increase in production include wearing apparel, furniture and football manufacturing whereas it declined in food, textile, machinery and equipment, tobacco, coke and petroleum products and transport equipment.

Wearing apparel showed a growth of 31.68 percent, leather 2.47 percent, furniture 48.26 percent and football 34.82 percent while the declining industries recorded are food (8.71 percent), beverages (3.39 percent), tobacco (23.78 percent), textile (16.03 percent), wood products (66.22 percent), paper and board (5.42 percent), coke and petroleum products (10.24 percent), chemicals (6.29 percent), chemicals products (1.49 percent increased), fabricated metal (13.83 percent), computer, electronics and optical products (26.52 percent), electrical equipment (11.15 percent), machinery and equipment (46.01 percent), automobiles (42.48 percent), fertilizers (9.54 percent), pharmaceuticals (23.20 percent), rubber products (8.08 percent), non-metallic mineral products (10.75 percent), iron and steel products (4.02 percent) and other transport equipment (38.91 percent).