Provisional Industrial Production Index – Sept. 2017

(Stock Photo)

The Index of Industrial Production (IIP) decreased by 4.2 per cent in September 2017, when compared to the previous month. This was due to a decrease in the index for Mining and Quarrying of 26.2 per cent; Manufacturing of 2.2 per cent; and Electricity, Gas and Water of 5.0 per cent.

According to data produced by the Barbados Statistical Service, the IIP for September 2017, decreased by 3.4 per cent when compared to September 2016.  There were decreases in the index of Mining and Quarrying of 17.5 per cent and Manufacturing of 1.5 per cent and Electricity, Gas and Water of 5.0 per cent.

The output for the Mining and Quarrying Sector decreased by 17.5 per cent at the end of September 2017, when compared to the previous year. This was as a result of a decrease in the index for Stone and Quarrying of 22.4 per cent, while there was an increase in Mining of 6.7 per cent.

The performance of the Manufacturing Sector decreased by 2.2 per cent in September 2017, when compared to August 2017. Year-on-year output for September 2017, decreased by 1.5 per cent due to decreases in the indices for Food of 7.1 per cent; Chemicals of 6.8 per cent; Electronic Components of 1.8 per cent and Other Manufacturing of 8.6 per cent.  There were increases recorded for Beverages and Tobacco of 7.3 per cent; Wearing of Apparel of 2.3 per cent; Wooden Furniture of 1.1 per cent and Non-Metallic Minerals of 18.7 per cent.

The Electricity, Gas and Water Sector decreased by 5.0 per cent when compared to the previous year. This was due to an increase in the consumption of Electricity of 6.7 per cent and the generation of Natural Gas of 41.1 per cent. There was an increase, however, recorded for consumption of Water of 4.5 per cent.

Summary of Index Changes

Economic Affairs Division