ISLAMABAD, Pakistan: The overall output of the Large-Scale Manufacturing Industries (LSMI) showed a decline of 9.39 percent during July-April 2022-23 when compared with the same period of last year.
According to data released by the Pakistan Bureau of Statistics (PBS), the LSMI output decreased by 21.07 percent for April 2023 when compared with April 2022 and 9.78 percent when compared with March 2023.
Pakistan Economy: Large Scale Manufacturing Index (LSM) for Apr-23#PBS #LSM #LargeScaleManufacturing #Pakistan #Topline pic.twitter.com/YP8Kvznl1a
— Topline Securities (@toplinesec) June 15, 2023
The data showed that the main contributors towards overall growth of -9.39 percent were 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 & Steel Products (-0.22), Electrical Equipment (-0.44) and Automobiles (-1.98).
July-April 2022-23 | Monthly Indices and Growth | ||||||
| Index for | Growth | Index for | Growth | ||||
| 2022-23 | 2021-22 | 2022-23 | April 2023 | April 2022 | March 2023 | MOM | YOY |
| 115.46 | 127.43 | -9.39 | 104.65 | 132.60 | 115.99 | -9.78 | -21.07 |
Earlier the Monthly Economic Outlook for May 2023 had revealed that the Large-Scale Manufacturing witnessed a contraction of 8.1 percent during the period of July-March of the Fiscal Year 2022-23 owing to various factors such as supply chain disruptions, inflationary pressures, and resultant hike in input prices and continued contractionary policy stance at the domestic level to correct the macro imbalances.
