Industrial Production Index – Dec. 2016

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Based on data produced by the Barbados Statistical Service, the Index of Industrial Production (IIP) increased by 0.1 per cent in December 2016, when compared with the previous month.

The increase was due to the growth in mining and quarrying of 22.8 per cent, and electricity, gas and water of 0.9 per cent. The manufacturing group fell by 1.2 per cent.

The IIP for December 2016 recorded a decrease of 0.4 per cent when compared with the previous year. Manufacturing declined by 3.8 per cent, while mining and quarrying recorded an increase of 36.1 per cent; and electricity, gas and water increased by 3.3 per cent.

The output for the mining and quarrying sector increased by 36.1 per cent at the end of December 2016 when compared to the previous year. This was as a result of an increase in the index for stone and quarrying of 60.3 per cent, while the index for mining recorded a decline of 4.1 per cent.

The electricity, gas and water sector increased by 3.3 per cent when compared with the previous year. This was due to increases in the generation of electricity of 2.3 per cent; water of 8.0 per cent; and natural gas of 13.5 per cent.

The performance of the manufacturing sector declined by 1.2 per cent in December 2016 when compared to November 2016. Year-on-year output for December 2016 decreased by 3.8 per cent due to decreases recorded in the indices for food of 3.9 per cent; wooden furniture of 4.8 per cent; chemicals of 8.9 per cent; non-metallic minerals of 14.5 cent; and other manufacturing of 6.9 per cent.

Meanwhile, there were increases in beverages and tobacco of 13.7 per cent; wearing apparel of 6.5 per cent; and electronic components of 89.5 per cent.

Economic Affairs Division