Industrial Production Provisional Index – July 2016

bgis Ministry News

Electricity, Gas and Water recorded an increase of 2.1 per cent for the Index of Industrial Production for July 2016 . (Stock Photo)

The Index of Industrial Production (IIP) increased by 1.9 per cent in July 2016 when compared with the previous month.

According to data produced by the Barbados Statistical Service, the increase in the index was due to an increase in Mining and Quarrying of 35.5 per cent; and Electricity, Gas and Water of 3.5 per cent. A decrease was recorded for the Manufacturing index of 0.7 per cent.

The IIP for July 2016 recorded a decrease of 0.7 per cent when compared with the previous year. Decreases were recorded for Mining and Quarrying of 7.9 per cent, and Manufacturing of 1.9 per cent.  However, Electricity, Gas and Water recorded an increase of 2.1 per cent.

The output for the Mining and Quarrying Sector increased by 35.5 per cent at the end of July 2016, when compared with the previous month. This was due to an increase in the indices for Mining of 7.7 per cent and Stone and Quarrying of 46.0 per cent.

Production in the Electricity, Gas and Water Sector increased by 2.1 per cent when compared with the previous year due to increases in the generation of Electricity of 3.7 per cent and Natural Gas of 7.5 per cent. There was a decrease recorded for the consumption of Water of 5.3 per cent.

The performance of the Manufacturing Sector decreased by 0.7 per cent in July 2016, when compared to the previous month. Year-on-year output for July 2016 decreased by 1.9 per cent due to decreases recorded in the indices for Food by 8.2 per cent; Beverages and Tobacco of 2.0 per cent; Wearing Apparel of 46.1 per cent; Wooden Furniture of 3.5 per cent; Chemicals of 15.7 per cent; and Electronic Components of 19.2 per cent.

Meanwhile, increases were recorded in the indices for Non-Metallic Minerals of 2.8 per cent and Other Manufacturing of 11.3 per cent.

Economic Affairs Division

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