Islamabad September 16 2024: In July 2024, Pakistan’s large-scale manufacturing sector experienced overall growth of 2.4%, driven by growth in textile and wearing apparel sectors, according to data released by Pakistan Bureau of Statistics.
The textile sector, holding the largest weight at 18.2 percent, grew by 8.4 percent YoY, while wearing apparel surged by 9.6 percent, contributing positively.
Other sectors such as food (4.8 percent), coke & petroleum products (5.6 percent), and tobacco (6.8 percent) also supported the growth. Automobiles saw a significant jump of 72 percent, further adding to the positive trend, along with beverages (6.8 percent) and furniture (55.8 percent).
However, some sectors contributed negatively, including non-metallic mineral products, which dropped sharply by 12.9 percent, and electrical equipment, which saw a decline of 19.4 percent. Iron & steel products (-12.7 percent), pharmaceuticals (-3.4 percent), and chemicals products (-2.1 percent) also had negative impacts on the overall index.
Despite these declines, the net effect was an increase in manufacturing activity by 2.4 percent during the month.
