Provisional Index Of Industrial Production For June

bgis Ministry News

(Stock Photo)

(Stock Photo)

The Index of Industrial Production (IIP) increased by 0.5 per cent in June 2016 when compared with the previous month.

According to data produced by the Barbados Statistical Service, this rise was due to an increase in Manufacturing by 3.1 per cent, while decreases were recorded for Mining and Quarrying by 8.2 per cent and Electricity, Gas and Water by 2.7 per cent.

The IIP for June 2016 recorded a decrease of 3.4 per cent when compared with the previous year. Decreases were recorded for Mining and Quarrying of 16.6 per cent; and Manufacturing of 5.5 per cent.  However, Electricity, Gas and Water recorded an increase of 1.8 per cent.

At the end of June 2016, the output for the Mining and Quarrying Sector decreased by 16.6 per cent when compared with the previous year. This was due to decreases in the indices for Mining by 7.1 per cent and Stone Quarrying by 19.7 per cent.

Production in the Electricity, Gas and Water Sector increased by 1.8 per cent when compared with the previous year, due to increases in the generation of Electricity of 2.4 per cent and Natural Gas of 5.2 per cent. There was a decrease recorded for the consumption of Water of 0.6 per cent.

In relation to the Manufacturing Sector, year-on-year output for June 2016 decreased by 5.5 per cent.

This was due to decreases recorded in the indices for Food by 2.8 per cent; Beverages and Tobacco of 24.0 per cent; Wearing Apparel of 69.2 per cent; Non-Metallic Minerals of 7.8 per cent; Electronic Components of 42.4 per cent and Other Manufacturing of 0.1 per cent.

Meanwhile, increases were recorded in the indices for Furniture of 6.4 per cent and Chemicals of 9.0 per cent.

Economic Affairs Division

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