Large-Scale Manufacturing grows 37% in May, 14.56% in 11 months

Web DeskWeb Editor

14th Jul, 2021. 02:33 pm

ISLAMABAD: The Large-Scale Manufacturing (LSM) production grew 36.84 per cent on a year-on-year basis during the month of May 2021, compared with the corresponding period of the last year, the Pakistan Bureau of Statistics (PBS) reported on Wednesday.

The LSM Quantum Index Number (QIM) was recorded at 139.55 points during May 2021 against 101.98 points during May 2020, showing a growth of 36.84 per cent, it added.

Meanwhile, the overall LSM production increased 14.57 per cent during the first 11 months of the current fiscal year, compared to the corresponding period of the last fiscal year.

The industrial production during July/May 2020/21 was recorded at 149.07 points against the output of 130.11 points during July/May 2019/20.

The highest increase of 11.08 per cent was witnessed in the indices monitored by the Ministry of Industries; followed by 2.63 per cent increase in indices monitored by the Provincial Board of Statistics and 0.86 per cent increase in the products monitored by the Oil Companies Advisory Committee.

The major sectors that showed positive growth during May 2021 included textiles (48.25 per cent), food, beverages and tobacco (14.45 per cent), coke and petroleum products (4.15 per cent), pharmaceuticals (15.18 per cent), chemicals (28.94 per cent), non-metallic mineral products (48.40 per cent), automobiles (409.37 per cent), iron and steel products (39.74 per cent), fertilisers (13.27 per cent) and paper and board (14.77 per cent).

The LSM industries that witnessed negative growth in May 2021 included electronics (283.09 per cent), leather products (64.77 per cent), engineering products (88.39 per cent), rubber products (25.42 per cent), and wood products (126.52 per cent).

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