Industrial Production Index For March 2016

bgis Ministry News

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The Index of Industrial Production for March 2016 increased by 1.9 per cent when compared with the previous month.

According to data produced by the Barbados Statistical Service, the increase in the index was due to increases in Mining and Quarrying by 6.0 per cent, and Electricity, Gas and Water by 5.8 per cent. Meanwhile, a decrease was recorded for Manufacturing by 0.5 per cent.

The Index of Industrial Production for March 2016 recorded an increase of 2.1 per cent when compared with the previous year. Increases were recorded for Manufacturing by 5.7 per cent and Electricity, Gas and Water by 1.0 per cent. Meanwhile, a decrease was reflected in the index for Mining and Quarrying by 38.9 per cent.

Output for the Mining and Quarrying Sector declined by 38.9 per cent at the end of March, when compared with the previous year. This was due to a decrease in the index for Stone Quarrying by 48.8 per cent. An increase was recorded for Mining by 19.7 per cent.

Production in the Electricity, Gas and Water sector increased by 1.0 per cent when compared with the previous year, due to increases in the generation of Electricity by 3.5 per cent; and Natural Gas by 3.1 per cent. However, a decrease was recorded in the index for the consumption of Water by 9.0 per cent.

Year on year output for March 2016 increased by 5.7 per cent due to increases recorded in the indices for Food by 0.7 per cent; Beverages and Tobacco by 5.5 per cent; Wearing Apparel by 113.2 per cent; Chemicals by 66.0 per cent; and Non-metallic Minerals by 29.0 per cent. Meanwhile, declines were recorded in the indices for Furniture by 1.2 per cent; Electronic Components by 28.4 per cent and Other Manufacturing by 10.8 per cent.

Division of Economic Affairs

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