LSMI output down 13% MoM, increases 15.4% YoY in April

June 16, 2022 (MLN): Pakistan’s Large Scale Manufacturing Industries (LSMI) production increased by 15.4% YoY during April 2022 when compared with April’21, Pakistan Bureau of Statistics (PBS) reported on Thursday.

However, on a MoM basis, the LSMI growth witnessed a decline of 13.3% in the month against the previous month i.e., March 2022, whereas on average, the LSM grew by 10.7% YoY during July-April FY22 as compared to the same period of the previous fiscal year.

The YoY increase during the month of April’22 was led by the Apparel, Furniture, Pharmaceuticals, Other Manufacturing, and Automobile sectors as they posted growth of 106.2% YoY, 64.4% YoY, 35% YoY, 29.6% YoY, and 27.4% YoY respectively followed by  Machinery (14.6%), Iron & Steel Products (13.8% YoY), Chemicals (10.5% YoY), Electrical equipment (8.7% YoY), Textile (7.7% YoY), Electronics (6.6% YoY),  Food (5.8% YoY), Beverages (5.7% YoY), Paper & Board (3.6% YoY), and Rubber Production (1.3% YoY).

While the industries that contracted during the month were Non-Metallic Mineral Products (-12.6% YoY), Transport Equipment (-11.5% YoY), Wood Products (-11.4% YoY), Petroleum Products (-5.1% YoY), Tobacco (-3% YoY), and Fabricated Metal (-2.3% YoY).

On a cumulative basis, during 10MFY22 out of 22 major industries, 19 posted positive growth while the rest of the 3 industries witnessed a decline.

The sector-wise performance revealed that the production increased in Food, Beverages, Tobacco, Wearing apparel, Textile, Chemicals, Automobiles, Iron & Steel Products, Leather Products and Paper & Paperboard as their output surged by 11% YoY, 1.5% YoY, 14.5% YoY, 41% YoY, 3.7% YoY, 8.3% YoY, 48.2% YoY, 16.3% YoY, 1.6% YoY, and 8.2% YoY respectively during Jul-April FY22, compared to the performance in Jul-April FY21.

On the other hand, the dismal numbers were witnessed in Other Transport Equipment, Rubber Products, Fabricated Metal, and Non-Metallic Mineral Products industries as their production dropped by 10.9% YoY, 18.8% YoY, 6.1% YoY, and 0.3% YoY, and 10.2% YoY respectively during 10MFY22.

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