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LSM sector shows promising growth in July 2024

Sabahat Abid | September 18, 2024

Islamabad: Pakistan’s Large-Scale Manufacturing (LSM) sector has grown by 2.38% in July 2024 compared to July 2023, according to a news source on September 16.

Read: Overseas Pakistanis boost Aug 2024 remittances by 40%

As per the Pakistan Bureau of Statistics (PBS), key sectors contributing to the year-on-year growth include:

Tobacco: +90.21%
Automobiles: +71.96%
Wearing Apparel: +9.59%
Textile: +8.43%
Beverages: +6.75%
Petroleum Products: +5.55%

Several industries saw a decline, such as pharmaceuticals (-3.36%), rubber products (-16.02%), iron & steel (-12.70%), and furniture (-55.83%).

Read: Massive oil, gas reserves found in Pakistani territorial waters

High-speed diesel production grew by 7.78%, while kerosene oil output dropped by 31.46%. Cement output decreased by 6.63% year-on-year and fell by 12.7% from June to July 2024.

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