March 23, 2017

Industrial production reported at $8.8 billion, Industrial indicators launched

The Association of Lebanese Industrialists (ALI) has launched the Industrial Indicators, based on data collected from the Ministry of Finance. The indicators include number of establishments, workforce, local and exported sales, net revenues from the sector, raw materials, and net cost of industry.

According to the indicators, industrial production volume reached $8.8 billion in 2015, decreasing from $10.5 billion in 2012.

The number of industrial establishments reached 1,977 down from 2,365 establishments in 2011. Companies with revenues less than $5 million annually represent 62 percent of the total.

The workforce in the industrial sector reached 77,678 recording 20 percent increase since 2011. Investments in the sector were around $2.6 billion between 2011 and 2015.

Fadi Gemayel, Chairman of ALI, said: “These indicators should help the government set policies based on data.”

Neemat Frem, Former President of ALI, said: “We were lacking numbers and indicators that would push us to take appropriate decisions. Now we can rely on these numbers.”

The indicators are supported by BLF and Indevco Group. ALI started working on the indicators in 2014. The indicators are available on ALI’s website and will be updated on a quarterly basis. 2016 numbers will be launched within a month. The country lacks such indicators for the industrial sector. The latest census conducted by the Ministry of Industry was in published in 2010, based figures collected in 2007.

Source:

http://www.businessnews.com.lb/cms/Story/StoryDetails.aspx?ItemID=5963

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