Provisional IIP For June 2017

(Stock Photo)

The Index of Industrial Production (IIP) decreased by 2.2 per cent in    June 2017 when compared to the previous month.

According to data produced by the Barbados Statistical Service, this decline in the index was due to the decrease in Mining and Quarrying of 19 per cent and Electricity, Gas and Water of 5.3 per cent. The index for Manufacturing increased by 0.9 per cent.

The IIP for June 2017 decreased by 1.1 per cent when compared to June 2016. There were decreases in the index of Mining and Quarrying of 6.7 per cent and Electricity, Gas and Water of 0.6 per cent and Manufacturing, of 1.1 per cent.

The output for the Mining and Quarrying Sector decreased by 6.7 per cent at the end of June 2017 when compared to the previous year. This occurred as a result of a decrease in the index for Mining of 28.0 per cent while the index for Stone and Quarrying increased by 0.7 per cent.

Performance of the Manufacturing Sector increased by 0.9 per cent in June 2017 when compared to May 2017. Year-on-year output for June 2017 decreased by 1.1 per cent due to a decrease in the indices for Wearing Apparel of 7.5 per cent; Wooden Furniture of 3.6 per cent; Chemicals of 1.7 per cent; Non-Metallic Minerals of 39.5 per cent and Other Manufacturing of 3.0 per cent. 

Meanwhile, there were increases in the indices for Food of 11.5 per cent; Beverages and Tobacco of 21.6 per cent; and Electronic Components of 49.7 per cent.

The Electricity, Gas and Water Sector decreased by 0.6 per cent when compared to the previous year. This was due to a decline in the consumption of Water of 4.9 per cent; and the generation of Natural Gas of 45.8 per cent.  Meanwhile, there was an increase in the consumption of Electricity of 0.7 per cent.

 Summary of Index Changes

Economic Affairs Division