The Large-Scale Manufacturing sector growth in Pakistan saw an increase of 2.38% in July 2024 compared to the same month in 2023, according to the latest report from the Pakistan Bureau of Statistics (PBS). However, there was a decline of 2.08% in output when compared to June 2024.
The provisional quantum index for Large-Scale Manufacturing Industries (LSMI) for July 2024 stands at 106.21, derived from comprehensive data supplied by various agencies, including the Ministry of Industries and Production. Significant contributors to the growth include the food sector (0.63%), tobacco (0.81%), and textiles (1.48%).
While many sectors like food and automobiles experienced robust growth, others such as pharmaceuticals and furniture faced declines in output. Notably, the food sector grew by 4.79%, while the automobile sector surged by an impressive 71.96%. Conversely, the pharmaceuticals sector decreased by 3.36%, reflecting a mixed performance across the industry.
In the petroleum segment, there was a notable increase in high-speed diesel production, which rose by 7.78%. Kerosene oil, however, saw a sharp decline of 31.46%.
This report highlights the dynamic nature of Pakistan’s manufacturing landscape, revealing both strengths and challenges faced by various sectors. The growth trend in key industries signals potential opportunities for investment and development in the coming months.
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