Pakistan’s large-scale manufacturing (LSM) sector witnessed a significant improvement in August 2024, with production increasing by 4.68% compared to the previous month of July, according to a performance report released by the Pakistan Bureau of Statistics.
The report highlighted growth in several key industries, including apparel, leather, and wood products, which saw a notable increase in output. Additionally, sectors like petroleum products, chemicals, fertilizers, and transport equipment also recorded positive growth during the month.
Other industries that experienced an uptick in production in August included food, tobacco, and pharmaceuticals. The tobacco industry, in particular, saw a remarkable rise, with production jumping by 34% over the July-August period, while vehicle production surged by 23%.
However, not all sectors performed positively. The report revealed that the textile, beverage, paperboard, and vehicle manufacturing industries experienced a decline in production last month. A 2.65% year-on-year decline in total output for August 2024 compared to the same period in 2023 was also recorded, reflecting challenges in certain sectors.
The report further noted that during the July-August period, the overall output of major industries fell by 0.19%, with production in textiles, beverages, leather, and wood products showing improvements, while pharmaceuticals, rubber, iron, steel, and computers saw declines.
Despite some sectors facing setbacks, the production of transport goods saw a 26% increase, while clothing manufacturing recorded a strong 14.51% growth over the two-month period.
The Federal Bureau of Statistics also highlighted an increase in football production during July and August, a positive indicator for the country’s sports goods industry.
