Industrial Production Provisional Index – Feb. 2016

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The Index of Industrial Production (IIP) increased by 8.4 per cent in February 2016, 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 41.7 per cent and Manufacturing by 14.9 per cent.

Meanwhile, a decrease was recorded for Electricity, Gas and Water by 3.9 per cent.

The IIP for February recorded a decrease of 0.2 per cent, when compared with the previous year. A decrease was reflected in the index for Manufacturing by 3.0 per cent. Meanwhile, increases were recorded for Mining and Quarrying by 25.1 per cent and Electricity, Gas and Water by 2.3 per cent.

Output for the Mining and Quarrying Sector increased by 25.1 per cent when compared with the previous year, due to an increase in the index for Stone Quarrying by 39.3 per cent. A decrease was recorded for Mining by 18.2 per cent.

Production in the Electricity, Gas and Water Sector increased by 2.3 per cent when compared with the previous year, due to increases in the generation of Electricity by 4.9 per cent; and Natural Gas by 5.4 per cent. However, a decrease was recorded in the index for the consumption of Water by 7.7 per cent.

Year-on-year output for the Manufacturing Sector for February declined by 3.0 per cent, due to decreases recorded in the indices for Food by 13.0 per cent; Wearing Apparel by 77.3 per cent; Furniture by 4.6 per cent; and Other Manufacturing by 3.1 per cent.

Meanwhile, increases were recorded in the indices for Beverages and Tobacco by 5.1 per cent; Chemicals by 11.5 per cent; Non-metallic Minerals by 2.7 per cent and Electronic Components by 2.1 per cent.

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