Pakistan’s large-scale manufacturing (LSM) output rose by 4.8pc from the prior year in the September quarter (Jul-Sep), while the index increased by 7.6pc in September from the prior year, production rose by 10.9pc from August, according to Pakistan Bureau of Statistics (PBS) data.
Pakistan’s economy is slowly recovering from the COVID-19 pandemic. The country’s non-metallic mineral production, pharma, food and beverage, paper production grew by 22pc, 13.4pc, 12.9pc, 10.35pc, respectively during the September quarter. But output of most products including automobiles, steel products fell by 5.7pc and 8pc, respectively
Steelmakers increased long steel output, while flat steel production lagged amid slow demand from auto sector.
|Pakistan’s steel production in September (mt)|
|Production||Sep-20||Sep-19||Change YoY||Jul-Sep 20||Jul-Sep 19||Change YoY|
|HRC / CRC||2,60,050||3,62,200||-28.20||7,59,500||10,86,500||-30.10|
Car production is steadily recovering in Pakistan. In September, jeep and car production rose by 40pc from a year ago though it is still down by 21.14pc on a quarterly basis in the July-Sep period.
Recovery in rural areas boosted the sales of tractors, trucks and motorcycles post-COVID-19. In September, production of tractors rose by 13.42pc, motorcycles up by 24.30pc, while trucks production increased by 3pc from the prior year. Tractors and motorcycles output have increased on a quarterly basis by 17.1pc and 18.6pc, respectively, while production of truck, buses, jeep and car and LCV are down by 5.8pc, 20.3 pc, 21.1pc and 32.5 pc, respectively.