Large Scale Manufacturing increases by 14.5% in November 2020
As per the data, the overall output of the LSM index increased by 7.41% during the five months (July-November) 2020-21 compared to July-November 2019-20.
Large Scale Manufacturing (LSM) in Pakistan grew by 14.5% in November 2020 compared to the same month in 2019.
LSM has posted a growth of more than 14% in November compared to same time last year.
Pakistan is successfully reversing the tide of deindustrialisation that began in 2008. Capacity enhancements, new investments and modernisations are already in play.
— Hammad Azhar (@Hammad_Azhar) January 12, 2021
According to the data released by the Pakistan Bureau of Statistics (PBS) on Tuesday, the LSM index output increased by 14.46% for November 2020, compared to November 2019, and 1.35% compared to October 2020.
Excellent news of large scale manufacturing (LSM) growth numbers for november. Jul to nov LSM growth is now 7.4% and the month of November growth is 14.5% vs Nov 2019. Industrial growth is clearly accelerating
— Asad Umar (@Asad_Umar) January 12, 2021
As per the data, the overall output of the LSM index increased by 7.41% during the five months (July-November) 2020-21 compared to July-November 2019-20.
November large scale manufacturing, year on year growth of 14.5% is the highest large scale manufacturing growth in any month in the last 12 years.
— Asad Umar (@Asad_Umar) January 12, 2021
The five months’ growth was primarily accredited to various sectors, including Textile, Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non-Metallic Mineral Products, Automobiles, Fertilisers, and Paper & Paperboard.
Double Digit Growth of 14.5% in Large Scale Manufacturing for Nov 2020
Textile = 3% ⬆️
Food etc = 56%⬆️
Pharmaceuticals = 7.7%⬆️
Chemicals = 11%⬆️
NM Minerals = 12%⬆️
Fertiliser = 9.2%⬆️
Paper = 10%⬆️
Automobiles = 44.5%⬆️
Iron & Steel = 3.4%⬆️
Cement = 13%⬆️
Electronics = 3%⬆️— Musa (@MusaNV18) January 12, 2021
According to the PBS data, considerable growth was recorded in the Food, Beverages & Tobacco sector at 21.28%.
The textile sector showed a growth of 2.4%, Non-Metallic Mineral Products recorded a 20% jump, and pharmaceuticals registered an increase of 12% during July-November 2020 compared to the same period in 2019.
On the other hand, a major decline recorded during the five months was for the Wood Products sector, with a drop of 65%. The Leather sector was the next to register a 43% decline.
Additionally, Iron & Steel Products, Electronics, and Engineering Products declined by 3.6%, 18%, and 32%, respectively.
The LSM constitutes 80% of the country’s total manufacturing and accounts for nearly 10.7% of the overall national output.
In comparison, small-scale manufacturing accounts for just 1.8% of the gross domestic product (GDP) and 13.7% in manufacturing.
The production of 11 items under the Oil Companies Advisory Committee (OCAC) showed a growth of 0.09%, whereas 36 items under the Ministry of Industries and Production increased by 5.46%.
The 65 items reported by the Provincial Bureaus of Statistics recorded growth of 1.85% during July-November 2020 compared to July-November 2019.
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Its good that ministers are coming on media and talking about pakistan progress