Provisional Industrial Production Index – Aug. 2016

bgis Ministry News

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The Index of Industrial Production (IIP) decreased by 1.5 per cent in August 2016 when compared with the previous month.

According to data produced by the Barbados Statistical Service, the decrease in the index was due to a decrease in Manufacturing of 0.7 per cent, and Electricity, Gas and Water of 2.9 per cent.  Meanwhile, an increase was recorded for the index Mining and Quarrying of 0.8 per cent.

The IIP for August 2016 recorded an increase of 4.3 per cent when compared with the previous year. The increases were recorded for Mining and Quarrying of 20.0 per cent, and Manufacturing of 7.7 per cent.  However, Electricity, Gas and Water recorded a decrease of 2.1 per cent.

The output for the Mining and Quarrying Sector increased by 0.8 per cent at the end of August 2016, when compared with the previous month. This was due to an increase in the index for Mining of 7.7 per cent. The index for Stone and Quarrying recorded a decline of 23.1 per cent.

Production in the Electricity, Gas and Water Sector decreased by 2.1 per cent when compared with the previous year due to decreases in the generation of Electricity of 1.3 per cent and  Water of 5.8 per cent. There was no change for the index of Natural Gas. Performance of the Manufacturing Sector decreased by 0.7 per cent in August 2016 when compared to July 2016.

Year-on-year output for August 2016 increased by 7.7 per cent due to increases recorded in the indices for Food of 4.4 per cent; Beverages and Tobacco of 0.6 per cent; Wearing and Apparel of 15.4 per cent; Wooden Furniture of 4.9 per cent; Chemicals of 26.8 per cent; Non-Metallic Minerals of 17.8 per cent; and Other Manufacturing of 4.2 per cent. For the index Electronic Components, there was a decrease recorded of 18.2 per cent.

Economic Affairs Division

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