LSMI output increases by 5.76% YoY in April 2024  M Haris

The Large Scale Manufacturing (LSM) sector in Pakistan showed a growth of 0.45% during July-April 2023-24 compared to the same period last year.

According to the Pakistan Bureau of Statistics (PBS), LSMI output increased by 5.76% YoY in April 2024 compared to April 2023 but decreased by 8.14% MoM compared to March 2024. 

The provisional quantum indices for April 2024, based on 2015-16 as the base year, indicate that the LSMI quantum index number (QIM) is 106.35, while for July-April 2023-24, it is 116.77.

The primary contributors to the 0.45% overall growth include food (0.32%), garments (0.93%), petroleum products (0.49%), chemicals (0.52%), pharmaceuticals (0.97%), and furniture (0.54%). 

However, declines were observed in tobacco (-0.54%), textile (-1.29%), cement (-0.20%), iron and steel products (-0.13%), electrical equipment (-0.26%), and automobiles (-0.86%).

Production in July-April 2023-24 compared to the previous year showed increases in food, wearing apparel, coke and petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment, and furniture. 

In contrast, decreases were noted in tobacco, textile, paper and board, non-metallic mineral products, iron and steel products, electrical equipment, automobiles, and other transport equipment.

During the same period, the food sector grew by 1.81%, wearing apparel by 6.51%, leather products by 5.45%, wood products by 11.93%, coke and petroleum products by 7.58%, chemicals by 6.71%, fertilizers by 13.88%, pharmaceuticals by 19.98%, machinery and equipment by 55.78%, and furniture by 21.57%. 

Conversely, the beverages sector declined by 3.47%, tobacco by 28.61%, textile by 7.26%, paper and board by 1.27%, non-metallic mineral products by 3.77%, iron and steel products by 2.75%, fabricated metal by 5.98%, computer, electronics, and optical products by 14.66%, electrical equipment by 7.89%, automobiles by 33.14%, and other transport equipment by 7.15%.

Petroleum products saw a 7.58% increase in July-April 2023-24, with indices rising to 95.17 from 88.47 the previous year. High-speed diesel production grew by 12.36%, reaching 4.431 billion litres, while furnace oil production increased by 16.34% to 2.193 billion litres. 

However, jet fuel oil production decreased by 10.55%, falling to 672.869 million litres.