Provisional Industrial Production Index – Jan. 2016

BARBADOS:  The Index of Industrial Production (IIP) decreased by 11.9 per cent in January 2016 when compared with the previous month.
According to data produced by the Barbados Statistical Service, this was due to decreases in Manufacturing by 20.5 per cent and Electricity, Gas and Water by 0.4 per cent. Meanwhile, an increase was recorded for Mining and Quarrying by 51.2 per cent.
The IIP for January 2016 recorded a decrease of 1.3 per cent when compared with the previous year. Decreases were recorded in the indices for Mining and Quarrying by 2.4 per cent, and Manufacturing by 3.4 per cent. Meanwhile, an increase was recorded for Electricity, Gas and Water by 2.0 per cent.
Output for the Mining and Quarrying Sector declined by 2.4 per cent at the end of December when compared with the previous year, due to a decrease in the index for Stone Quarrying by 12.0 per cent. An increase was recorded in Mining by 31.0 per cent.
Production in the Electricity, Gas and Water Sector increased by 2.0 per cent when compared with the previous year, due to increases in the generation of Electricity by 1.9 per cent; Water by 2.2 per cent; and Natural Gas by 2.9 per cent.
Year-on-year output for the Manufacturing Sector for January 2016 declined by 3.4 per cent due to decreases recorded in the indices for Food by 0.4 per cent; Beverages & Tobacco by 20.0 per cent; Wearing Apparel by 51.0 per cent; Electronic Components by 27.7 per cent; and Other Manufacturing by 8.2 per cent.
Meanwhile, increases were recorded in the indices for Chemicals by 35.9 per cent and Non-Metallic Minerals by 1.9 per cent. No change was recorded in the index for Furniture during the period.