Provisional Industrial Production Index – March 2017

bgis Ministry News

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The Index of Industrial Production (IIP) increased by 7.8 per cent in March 2017 when compared to the previous month.

According to data produced by the Barbados Statistical Service, this was due to the increase in Electricity, Gas and Water of 12.0 per cent; Manufacturing of 4.8 per cent; and Mining and Quarrying of 19.5 per cent.

The IIP for March 2017 remained constant when compared to March 2016.  There were increases in the index of Mining and Quarrying of 50.2 per cent and Electricity, Gas and Water of 2.7 per cent.  Meanwhile, there was a decrease in the index for Manufacturing, which recorded 3.6 per cent.

The output for the Mining and Quarrying Sector increased by 50.2 per cent at the end of March 2017 when compared to the previous year. This was as a result of an increase in the index for Stone and Quarrying of 71.4 per cent. However, there was a decline in the index for Mining of 1.3 per cent.

Performance of the Manufacturing Sector grew by 4.8 per cent in March 2017 when compared to the previous month. Year-on-year output for March decreased by 3.6 per cent due to a reduction in the indices for Beverages and Tobacco of 10.1 per cent; Chemicals of 16.0 per cent; and Non-Metallic Minerals of 10.5 per cent.

On the other hand, there were increases in the index for Food of 0.8 per cent; Wearing of Apparel of 1.0 per cent; Wooden Furniture of 12.6 per cent; Electronic Components of 30.8 per cent; and Other Manufacturing of 1.2 per cent.

The Electricity, Gas and Water Sector increased by 2.7 per cent when compared with the previous year. There was an increase in the index for Electricity of 1.4 per cent; and the generation of Natural Gas of 8.3 per cent.       

Summary of Index Changes

Sector Mar 17 Feb 17 % change over Feb 17  Mar 16 % change over Mar 16
 

All Industries

 

75.8 70.3 7.8 75.8 0.0
 

Mining & Quarrying

 

107.7 90.1 19.5 71.7  

50.2

 

 

Manufacturing

 

56.7 54.1 4.8  

58.8

 

 

-3.6

 

 

Electricity, Gas & Water

 

157.0 140.1 12.0 152.8 2.7

Economic Affairs Division

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