Recent data reflects decline in LSMI

Pakistan Bureau of Statistics (PBS) released the overall data of the large scale manufacturing industries (LSMI) for the first quarter from July to September this fiscal year and the data showed a 0.4 percent decline in the overall production. On an YoY basis, the industry showed a growth of 0.01 percent as compared to the same month previous year (September 2021) and a 0.1 percent gain was seen on a MoM basis as compared to August 2022.

The following products were the main contributors to the data extracted recently ; garments (5.0), petroleum products (-1.4), cement (-1.4), pharmaceuticals (-1.8), iron and steel products (0.2) and automobiles (-1.5). The production increased in the industries related to wearing apparel, chemicals, iron and steel products and furniture.

The details for the products that showed a growth pattern during the first quarter of the current fiscal year include wood products (5.3 per cent), paper and board (23.5 per cent), chemicals (4.1 per cent), chemicals products (6.9 per cent), beverages (three per cent), wearing apparel (58.1 per cent), leather products (8.4 per cent), fertilisers (2.2 per cent), iron and steel products (4.9 per cent), and furniture (126.6 per cent).

The products which recorded decline during the same time period include electrical equipment (3.5 per cent), machinery and equipment (37 per cent), automobiles (32.8 per cent), food (6.2 per cent), tobacco (31.2 per cent), textile (3.3 per cent), coke and petroleum products (18.9 per cent), pharmaceuticals (29 per cent), rubber products (7.1 per cent), non-metallic mineral products (13 per cent), fabricated metal (18.7 per cent), computer, electronics and optical products (9.6 per cent), other transport equipment (42.4 per cent), and other manufacturing including football (59.1 per cent).

A decline of 18.9 percent was observed for the petroleum products during July – September 2022-23 and the industry a fall of 24.4 percent on a MoM basis. High speed diesel remained at 1.07 billion litres after a negative growth of 25.5 percent, furnace oil showed a negative growth of 13.9 percent whereas a growth of 41.2 percent was witnessed by the jet fuel oil production in the said period.

Kerosene oil witnessed 26 percent negative growth whereas motor spirits registered a negative growth of 13.7 percent in the first quarter. The cement industry was also observed and a negative growth of 20.4 percent was recorded.