Provisional Industrial Production Index – Dec. 2017

bgis Ministry News

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The Index of Industrial Production (IIP) decreased by 5.8 per cent in December 2017, when compared with the previous month. This was due to increases in the indices for Mining and Quarrying of 28.5 per cent and Manufacturing of 8.3 per cent. The index for Electricity, Gas and Water increased by 1.5 per cent.

According to the Barbados Statistical Service, the IIP for December 2017 decreased by 4.5 per cent when compared to December 2016.  There were also decreases in the indices for Manufacturing of 6.2 per cent and Electricity, Gas and Water of 2.3 per cent. There was an increase in the index for Mining and Quarrying of 3.7 per cent.

The output for the Mining and Quarrying Sector increased by 3.7 per cent at the end of December 2017, when compared to the previous year. This was as a result of an increase in the index for Mining of 16.0 per cent, while Stone and Quarrying declined by 0.9 per cent.

The performance of the Manufacturing Sector decreased by 8.3 per cent in December 2017 when compared to November 2017.Year-on-year output for December 2017 decreased by 6.2 per cent due to decreases in the indices for Food of 21.0 per cent; Wooden Furniture of 5.5 per cent; Chemicals of 6.2 per cent; and Other Manufacturing 5.1 per cent.

There were increases, however, for the indices of Beverages and Tobacco of 21.0 per cent; Wearing Apparel of 0.2 per cent; Non-Metallic Mineral Products of 4.0 per cent; and Electronic Components of 8.8 per cent.

The Electricity, Gas and Water Sector decreased by 2.3 per cent when compared to the previous year. This was due to a decrease in the consumption of Electricity of 1.8 per cent; the generation of Natural Gas of 56.2 per cent; and the consumption of Water of 2.9 per cent.

Summary Of Index Changes

Sector Dec. 17 Nov. 17 % change over Nov 17 Dec. 16 % change over Dec. 16
 

All Industries

 

74.6 79.2 -5.8 78.2 -4.5
 

Mining & Quarrying

 

86.5 121.0 -28.5 83.4 3.7
 

Manufacturing

 

56.0 61.1  

-8.3

 

59.7 -6.2
 

 

Electricity, Gas & Water

 

 

156.9

 

154.6

 

1.5

 

160.6

 

-2.3

 

Economic Affairs Division

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