Industrial Production Provisional Index – Feb. 2018

(Stock Photo)

The Index of Industrial Production (IIP) decreased by 1.2 per cent in February 2018, when compared with the previous month.

According to data produced by the Barbados Statistical Service, this was due to a decrease in the index for Electricity, Gas and Water of 9.1 per cent, while there were increases in the indices for Mining and Quarrying of 23.3 per cent and Manufacturing of 2.8 per cent.

The IIP for February 2018 increased by 0.2 per cent when compared to February 2017. There was an increase in the index for the Manufacturing sector of 1.5 per cent, while there were decreases in the indices for Mining and Quarrying of 8.4 per cent and Electricity, Gas and Water of 1.1 per cent.

The output for the Mining and Quarrying Sector decreased by 8.4 per cent at the end of February 2018 when compared to the previous year. This was as a result of a decline in the index for Stone Quarrying of 12.8 per cent, while the index for Mining recorded an increase of 7.6 per cent.

The performance of the Manufacturing Sector increased by 2.8 per cent in February 2018 when compared to January 2018. Year-on-year output for February 2018 increased by 1.5 per cent, which was reflected in the indices for Food of 0.9 per cent; Chemicals of 2.9 per cent and Non-metallic Mineral Products of 14.7 per cent.     

There were decreases recorded for the indices of Beverages and Tobacco of 0.2 per cent; Wearing Apparel of 0.7 per cent; Wooden Furniture of 1.9 per cent; Electronic Components of 0.1 per cent and Other Manufacturing of 3.4 per cent.

The Electricity, Gas and Water Sector decreased by 1.1 per cent when compared with the previous year. This was due to decreases in the consumption of Electricity of 1.9 per cent and the generation of Natural Gas of 31.4 per cent. The consumption of Water, however, increased by 3.6 per cent.

Summary Of Index Changes

Economic Affairs Division