Provisional IIP For April 2017

(Stock Photo)

The Index of Industrial Production (IIP) decreased by 8.0 per cent in April 2017 when compared with the previous month.

The decrease in the index was due to the decrease in Electricity, Gas and Water of 2.3 per cent; Manufacturing of 10.5 per cent; and Mining and Quarrying of 22.1 per cent.

Based on data produced by the Barbados Statistical Service, the IIP for April 2017 declined by 5.5 per cent when compared to April 2016.  There were increases in the index of Mining and Quarrying of 8.4 per cent, and Electricity, Gas and Water of 0.2 per cent.  Meanwhile, there was a decrease in the index for Manufacturing, which recorded 9.6 per cent.

The output for the Mining and Quarrying Sector increased by 8.4 per cent at the end of April when compared to the previous year. This was as a result of an increase in the index for Stone and Quarrying of 18.2 per cent.  However, there was a decline in the index for Mining of 14.3 per cent.

Performance of the Manufacturing Sector declined by 10.5 per cent in April 2017 when compared to March 2017. Year-on-year output for April 2017 decreased by 9.6 per cent due to a decrease in the indices for Food of 9.1 per cent; Beverages and Tobacco of 1.8 per cent; Wearing Apparel of 3.2 per cent; Chemicals of 32.9 per cent; Non-Metallic Minerals of 4.1 per cent; Electronic Components of 19.0 per cent and Other Manufacturing of 9.7 per cent.  On the other hand, there was an increase in the index for Wooden Furniture of 6.9 per cent.

The Electricity, Gas and Water Sector increased by 0.2 per cent when compared with the previous year. This was due to an increase in the consumption of Water of 7.7 per cent and the generation of Natural Gas of 3.3 per cent. However, there was a decline in the consumption of Electricity of 1.4 per cent.

Summary of Index Changes

Economic Affairs Division