Tractor assembly in Pakistan saw significant growth during the financial year ending on June 30, 2024, with a 45.74 percent increase compared to the previous year. From July 2023 to June 2024, approximately 46,272 tractors were produced locally, up from 31,752 units in the same period of the prior year, according to the provisional Quantum Index Numbers of Large Scale Manufacturing Industries (QIM) for June 2024 released by the Pakistan Bureau of Statistics.
Overall, the Large Scale Manufacturing Industries (LSMI) sector registered a modest growth of 0.92 percent during the fiscal year 2023-24 compared to the previous year. However, LSMI output decreased slightly by 0.03% in June 2024 compared to June 2023, and by 4.70% when compared to May 2024.
Production increases were noted in sectors such as food, wearing apparel, coke & petroleum products, chemicals, fertilizers, pharmaceuticals, machinery and equipment, and furniture. However, declines were observed in tobacco, textile, paper & board, non-metallic mineral products, iron & steel products, electrical equipment, automobiles, and other transport equipment.
