Large-scale manufacturing speeds up 16.7% in December

Large-scale manufacturing

The large-scale manufacturing (LSM) of the country, for instance, the production of textiles, automobiles, and medicines have been increased by 16.7 percent month-on-month in December having the base year 2005-06, the Pakistan Bureau of Statistics stated on Thursday.

The growth, however, arose at 3.8 percent in December on a year-on-year basis, as compared to the same month the previous year. During the ongoing fiscal year, the first half (July to December) large-scale manufacturing showed an increase of 3.4 percent as compared to the same period a year ago.

According to the statistics issued by the Pakistan Bureau of Statistics, the indices of the provisional quantum of large-scale manufacturing industries have been prepared on the basis of the latest data delivered by source agencies i.e. Ministry of Industries and Production, the Oil Companies Advisory Committee (OCAC), and provincial boards of statistics.

Moreover, the indexes monitored by the ministry of industries depicted the largest increase of 4.7 percent in Large-scale manufacturing in the half-yearly period, followed by a 1.3 percent increase in indexes which were observed by the provincial boards of statistics. On the other hand, the OCAC-monitored indexes saw a decrease of 0.5 percent.

During the six months, the sectors whose production showed a substantial increase included textiles with 1.1 percent growth, food, beverages, and tobacco recorded 3.1 percent increase; chemicals having 5.4 percent rise; automobiles increased by 35.7 percent; iron and steel products witnessed 23.9 percent growth; leather products showed 8.3 percent upsurge; engineering products increased by 1.1 percent; paper and board having 8.3 percent growth; whereas wood products noted an increase of 229.4 percent.

Read more: Large scale manufacturing grows by modest 3.56% in July-Oct FY22

Meanwhile, the sectors whose production showed a declining curve are non-metallic mineral products moved down by 0.5 percent, fertilizers pharmaceuticals recorded a drop of 0.7 percent, non-metallic mineral products had a 0.6 percent decline, fertilizers decreased by 3.9 percent, electronics noted a drop of 6.2 percent and rubber products reported a descend of 28.3 percent.

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