LSM output jumps by 16.7% MoM in December

February 17, 2022: Pakistan’s Large Scale Manufacturing Industries (LSMI) production grew by 16.7 percent during December 2021 compared to the previous month of November 2021, the Pakistan Bureau of Statistics (PBS) reported on Thursday.

On year-on-year basis, the LSM growth witnessed an increase of 3.8 percent in the month against same month (December) of the preceding year, whereas on average, the LSM grew by 3.4 percent during July-December (2021-22) as compared to same period of the previous fiscal year.

As per details, the highest increase of 4.7 percent during July-December FY22 was witnessed in indices monitored by the ministry of industries, followed by a 1.3 percent increase in indices monitored by the Provincial Board of Statistics (PBS), while the indices monitored by Oil Companies Advisory Committee (OCAC) witnessed a decrease of 0.5%, the PBS reported.

The production in July-December 2021-22 as compared to July-December 2020-21 has increased in Textile, Food, Beverages & Tobacco, Chemicals, Automobiles, Iron & Steel products, Leather Products and Paper & Paperboard while it decreased in Non Metallic Mineral Products, Fertilizers, Electronics & Rubber Products.

The major sectors that showed growth during the period under review included textile which grew by 1.1 percent, food, beverages, and tobacco which grew by 3.1 percent, chemicals 5.4 percent, automobiles 35.7 percent, iron and steel products 23.9 percent, leather products 8.3 percent, paper and board 8.3 percent, engineering products 1.1 percent and wood products registered a 229.4 percent growth.

The commodities that witnessed negative growth included non-metallic mineral products, which took a 0.5 percent hit, fertilizers pharmaceuticals 0.7 percent, non metalic mineral products 0.6 percent, fertilizers 3.9 percent, electronics 6.2 percent and rubber products 28.3 percent.

It is pertinent to mention here that the provisional QIM is being computed on the basis of the latest production data received from sources, including OCAC, Ministry of Industries and Production (MoIP), and PBS.

APP