LSMI output grows 37 percent in May, 14.56 percent in 11 months

LSMI output

The output of Large-Scale Manufacturing Industries (LSMI) increased by 14.57 percent in July-May 2020-21 compared to 11MFY20. 

According to the Pakistan Bureau of Statistics (PBS) reported on Tuesday, the large-scale manufacturing sector’s (LSM) output grew 14.57 percent in the first 11 months (Jul-May) of the last fiscal year (11MFY21) compared to the corresponding period last year. However, on a month-on-month basis the industrial output shrank 3.93 percent.

Read more: Large-scale manufacturing expands by 68pc in April, 13pc in 10 months of FY 2021 

LSM continued its growth momentum in the 4th consecutive month as output of big industrial sectors rose year-on-year by 36.84 percent in May. Likewise, the LSM data released by the PBS after collecting it from the Provincial Bureau of Statistics (BOS), the Oil Companies Advisory Council (OCAC) and the Ministry of Industries showed that the OCAC recorded month-on-month decline of 8.32 percent in May against previous month, and 4.15 percent growth year-on-year in May against May 2020. 

The data further showed that the Ministry of Industry-related sectors observed negative growth of 6.49 percent month-on-month in May, whereas, on a year-on-year basis it registered a growth of 45.06 percent. 

The PBS data said that LSMI-related data to the BOS month-on-month witnessed 2.35 percent growth in output in May against the previous month, and on YoY basis, BOS witnessed a growth of 29.59 percent in May against May 2020. 

The production in 11MFY21 as compared to 11MFY20 has increased in textile, food, beverages and tobacco, coke and petroleum products, pharmaceuticals, chemicals, automobiles, fertilizers, paper and boards and iron and steel products, while it decreased in wood products, engineering products, electronics, rubber products, and leather products. 

On the other hand, the LSM industries that witnessed negative growth in May 2021 included electronics at 283.09 percent, leather products at 64.77 percent, engineering products 88.39 percent at rubber products at 25.42 percent, and wood products at 126.52 percent. 

Textile, the top contributing sector to the overall big industry output increased by 15.64pc, food, beverages and tobacco 11.71pc, coke and petroleum products 16.22pc, pharmaceuticals 12.15pc, chemicals 18.78pc, automobiles 47.81pc, non-metallic mineral products 26.08pc, fertilizers 6.99pc, paper and board 3.24pc, and iron and steel products 14.14pc during 11MFY21 compared to the same period last year. 

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