Provisional Industrial Production Index – Aug. 2017

(Stock Photo)

Provisional Index Of Industrial Production For August 2017

The Index of Industrial Production (IIP) decreased by 0.5 per cent in August 2017 when compared with the previous month.

According to the Barbados Statistical Service, this was due to a decrease in the index for Manufacturing of 2.5 per cent. However, there were increases recorded for Mining and Quarrying of 8.9 per cent and Electricity, Gas and Water of 2.0 per cent.

The IIP for August 2017 decreased by 0.5 per cent when compared to August 2016. There were decreases in the indices of Mining and Quarrying of 10.1 per cent and Manufacturing of 1.4 per cent, while Electricity, Gas and Water increased by 2.1 per cent.

Performance of the Mining and Quarrying Sector

The output for the Mining and Quarrying Sector decreased by 10.1 per cent at the end of August 2017 when compared to the previous year. This was as a result of a decrease in the index for Stone and Quarrying of 19.8 per cent, while there was an increase in Mining of 36.7 per cent.

Performance of the Manufacturing Sector

The performance of the Manufacturing Sector decreased by 2.5 per cent in August 2017 when compared to July 2017. Year-on-year output for August 2017 decreased by 1.4 per cent due to decreases in the indices for Food of 10.4 per cent; Chemicals of 15.9 per cent; Electronic Components of 8.4 per cent and Other Manufacturing of 5.9 per cent.

There were increases recorded for Beverages and Tobacco of 12.4 per cent; Wearing Apparel of 3.2 per cent; Wooden Furniture of 1.3 per cent; and Non-Metallic Minerals of 25.9 per cent.

Performance of the Electricity, Gas and Water Sector

The Electricity, Gas and Water Sector increased by 2.1 per cent when compared with the previous year. This was due to an increase in the consumption of Electricity of 2.8 per cent. There was a decrease however, recorded for the generation of Natural Gas of 44.1 per cent.

Summary Of Index Changes

Economic Affairs Division