ISLAMABAD: Pakistan Bureau of Statistics (PBS) data shows that local tractor assembly has increased by 6.71 percent compared to the corresponding period in the previous year.
During the first two months of the current fiscal year, local tractor assembly has seen significant growth of 6.71 percent.
In contrast, the assembly of locally made jeeps and cars witnessed a decline of 53.91 percent during the same period. According to the data, 14,328 jeeps and cars were assembled, a substantial decrease from the 31,085 assembled during the corresponding period.
In August 2023, the assembly of domestic jeeps and cars decreased by 39.01 percent compared to the same month the previous year.
Pakistan’s Tractor Assembling on the Rise
From July to August 2023, a total of 6,217 tractors were assembled locally, compared to 5,826 tractors during the same period in the previous year, as reported by the Pakistan Bureau of Statistics.
In a month-to-month comparison, tractor assembly in the country increased by 13.18 percent in July 2023, with 3,597 tractors assembled, compared to 3,178 tractors in the same month the previous year.
It’s worth noting that the Large-Scale Manufacturing Industry (LSMI) recorded a 2.52 percent increase in output for August 2023 compared to August 2022 and an 8.44 percent increase when compared to July 2023.
The Quick Impact Monitoring (QIM) for July-August 2023-24 is estimated at 112.44, with the overall LSMI showing a growth of 0.50 percent during this period compared to the previous year.
