Output of eight core industries slows down to 4% in June 2024

01 Aug 2024 Evaluate

The Ministry of Commerce & Industry in its latest data has showed that the output of eight core industries slowed down to 4 percent in June 2024 from 8.4 percent in the same period last year, due to a decline in the output of crude oil, and refinery products. The core sectors' production grew by 6.4 percent in May 2024. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).

Coal production having 10.33 per cent weight increased by 14.8 per cent in June, 2024 over June, 2023 and its cumulative index increased by 10.8 per cent during April to June, 2024-25 over corresponding period of the previous year. Electricity generation having 19.85 per cent weight increased by 7.7 per cent in June, 2024 over June, 2023 and its cumulative index increased by 10.5 per cent during April to June, 2024-25 over corresponding period of the previous year.

Natural Gas production having 6.88 per cent weight increased by 3.3 per cent in June, 2024 over June, 2023 and its cumulative index increased by 6.4 per cent during April to June, 2024-25 over corresponding period of the previous year. Steel production having 17.92 per cent weight increased by 2.7 per cent in June, 2024 over June, 2023 and its cumulative index increased by 6.1 per cent during April to June, 2024-25 over corresponding period of the previous year.

Cement production having 5.37 per cent weight increased by 1.9 per cent in June, 2024 over June, 2023 and its cumulative index increased by 0.3 per cent during April to June, 2024-25 over corresponding period of the previous year. Fertilizer production having 2.63 per cent weight increased by 2.4 per cent in June, 2024 over June, 2023 and its cumulative index remained constant during April to June, 2024-25 over corresponding period of the previous year.

Petroleum Refinery production having 28.04 per cent weight declined by 1.5 per cent in June, 2024 over June, 2023, while its cumulative index increased by 0.9 per cent during April to June, 2024-25 over corresponding period of the previous year. Crude Oil production having 8.98 per cent weight declined by 2.6 per cent in June, 2024 over June, 2023, while its cumulative index declined by 0.7 per cent during April-June, 2024-25 over corresponding period of the previous year.

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