Business Verticals

Mayra Manufacturing Industry

Manufacturing industry refers to those industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in value addition. In developed countries the industry accounts for a significant share of the industrial sector. The final products can either serves as a finished good for sale to customers or as intermediate goods used in the production process. History speaks that the industry of manufacturing came into being in 18th-19th century. This was widely known as industrial revolution. Economists consider the World manufacturing industry as a sector which generates employment, introducing latest techniques, real earnings from shipments and creating a lot of wealth. Engineering and industrial design closely connected with manufacturing sector. General Motors Corporation, General Electric, Procter & Gamble, General Dynamics, Boeing, Pfizer, and Precision Castparts are the major manufacturers in North America. Volkswagen Group, Siemens, and Michelin examples of Europe and Sony, Huawei, Lenovo, Toyota, Samsung, and Bridgestone are the major player in Asia.

Business Outlook

(Data Source: CANSIM, table 282-0008, Statistics Canada; COPS Scenario for NB, 2011 Edition)

  1. GDP associated with the Manufacturing Sector is projected to rise from approximately $2.5 Billion to over $3.0 Billion by 2020.
  2. The Manufacturing Sector is expected to account for 11.9% of New Brunswick's GDP as projected till year 2020.
  3. The Manufacturing Sector is expected to account for 12.7% of Canada's GDP.

Employment

(Data Source: CANSIM, table 282-0008, Statistics Canada; COPS Scenario for NB, 2011 Edition)

  1. In 2011, 35,800 people were part of the labour force in the Manufacturing Sector in New Brunswick.
  2. The forecasted attrition of approximately 872 employees on average annually from 2011 to 2020.

There is a large disconnect between output and employment across the formal and informal sectors, in India. Over 80% of India's manufacturing output comes under formal, while the informal sector accounts for over 80% and 99% of Indian manufacturing employment and establishments, respectively.