Only 3 of 15 major industries recorded growth
Large-scale manufacturing industry output declined by 42% in April 2020 compared to April 2019, the Pakistan Bureau of Statistics (PBS) reported.
According to the industry’s performance report for the first 10 months of the financial year 2020, production declined by 8.9%.
Out of the 15 major industries, three recorded some growth while the remaining 12 showed declining output. Closure of business activities due to the coronavirus also affected the overall industry.
“Production in Jul-Apr 2019-20 as compared to Jul-Apr 2018-19 has increased in fertilizers, paper and board while it has significantly decreased in textile, food, beverages, tobacco, coke, petroleum products, pharmaceuticals, automobiles, iron and steel products, and electronics,” the PBS added.
Production has increased in fertilizer, paper board, and rubber products by 3% to 6%.
Additionally, the report said that the production of vehicles has declined a whopping 41% and textiles by 8.7%. The textile sector uses more labour due to which it is highly exposed to the coronavirus and was thus severely affected by the pandemic.
Wood production fell by 31% and electronic production fell by 20%. Petroleum production also fell by 21% and iron and steel production by 15%. Engineering products declined by 15%, leather by 4.5%, pharmaceuticals by 5.3%, and chemicals by 3.7%.