Provisional Industrial Production Index – Oct. 2017

bgis Ministry News

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The Index of Industrial Production (IIP) increased by 9.1 per cent in October 2017 when compared to the previous month. This was due to increases in the indices for Mining and Quarrying of 5.6 per cent; Manufacturing of 13.5 per cent; and Electricity, Gas and Water of 2.5 per cent.

According to the Barbados Statistical Service, the IIP for October 2017 decreased by 1.8 per cent when compared to October 2016. There were decreases in the indices of Mining and Quarrying of 16.9 per cent; Manufacturing of 1.1 per cent; and Electricity, Gas and Water of 1.2 per cent.

The output for the Mining and Quarrying Sector decreased by 16.9 per cent at the end of October 2017, when compared to the previous year. This was as a result of a decrease in the index for Stone and Quarrying of 24.7 per cent, while there was an increase in Mining of 18.5 per cent.

The performance of the Manufacturing Sector increased by 13.5 per cent in October 2017, when compared to September 2017. Year-on-year output for October 2017 decreased by 1.1 per cent due to decreases in the indices for Food of 9.3 per cent; Chemicals of 19.6 per cent; Non-Metallic Minerals of 13.1 per cent and Electronic Components of 3.3 per cent.

There were increases recorded for Beverages and Tobacco of 10.5 per cent; Wearing Apparel of 1.4 per cent; and Other Manufacturing of 19.3 per cent.

The Electricity, Gas and Water Sector decreased by 1.2 per cent when compared with the previous year. This was due to a decrease in the consumption of Electricity of 1.4 per cent and the generation of Natural Gas of 40.7 per cent. There was an increase, however, recorded for the consumption of Water of 0.7 per cent. 

Summary of Index Changes

Summary of Index Changes Sector

 

Oct. 17 Sep. 17 % change over Sep. 17 Oct. 16 % change over Oct. 16
 

All Industries

 

78.9 72.3 9.1 80.3 -1.8
 

Mining & Quarrying

 

98.3 93.1 5.6 118.3 -16.9
 

Manufacturing

 

60.7 53.5 13.5 61.4 -1.1
 

Electricity, Gas & Water

 

157.8

 

153.9

 

2.5

 

159.8

 

-1.2

 

Economic Affairs Division

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