Barbados' domestic exports grew by 53.4 per cent

[Hopyoneson]

WHILE manufacturing output grew only marginally in the first quarter of this year, the appetite overseas for Barbadian goods increased substantially.

According to the Central Bank of Barbados' review of this economy's performance between January and March, domestic exports grew by an estimated 53.4 per cent over the period.

This was revealed by Dr Marion Williams, governor of the bank, as she presented the economic report at a press conference in the bank's boardroom in the Tom Adams Financial Centre in Bridgetown.

Williams noted that these exports were mainly comprised of food and beverages, electronic components, and other miscellaneous items.

Director of research Daniel Boamah said this was, in actual terms, equivalent to an increase of Bds$44.7 million.
This is in spite of the fact that output in the manufacturing industry only rose by 2.4 per cent due to increased production of beverages and chemicals.

Williams said during the question-and-answer period following the presentation that she believed the decline of the manufacturing sector had stabilised.

She said the manufacturers that remained were the "better companies" which were "more energised and probably better positioned to take advantage of the possibilities".
SOURCE

[Wahalla]

Re: Barbados' domestic exports grew by 53.4 per cent

Now that I find pleasantly surprising.... I was there about two weeks ago and found few thing manufactured there.. They have a small oil feild, make some good rum, and great pepper sauce.. Did see teh cement plant.... They seem capable of making the stuff but... I saw little evidence of much manufacturing.. But good for them..... I was particularly disappointed that there seemed to be so little small holdigns.. But did notice some covered tents used for growing year round vegtables..

I must say that given a choice of investment in Jamaica or Barbadoes I would chose Barbadoes....

[Hopyoneson]

Re: Barbados' domestic exports grew by 53.4 per cent

I was impressed also when I read the news, I think Barbados short term has better prospects but longer term I would and currently investing in Jamaica, that out of control crime in kingston/Spanish town and Mobay is making us severly underperform, but a strategic analysis shows we will most likely outperform most countries of comparable size in the caribbean.

[RichD]

Re: Barbados' domestic exports grew by 53.4 per cent

what is classified as domestic exports?

in contrast Jamaica's domestic exports grew by 10% last year.

[PILOT]

Re: Barbados' domestic exports grew by 53.4 per cent

Barbados in terms of size, a population of under 300,000. Is not the most attractive place for a foriegn investor to invest in today's caribbean. Credit to them for high literacy and growing their economy at a rate that shows that each Barbadian is probably having a higher standard of living than the average Jamaican.

However, interms of investment options and potential return on investment, Jamaica is a better destination.

The market is larger in Jamaica, Labour is cheaper in Jamaica, the Jamaican economy is more diversified, the Jamaican government is more open and friendy to foriegn investment. The Barbadian Government tend to protect their indigenous local/domestic investors. Foreign investment there I guess is welcomed on a limited basis.

Barbados like Jamaica has tourism as its major industry and while visitor arrival have been steadily increasing in Jamaica , Barbados arrivals are less than Jamaica and they experienced a decline in visitor arrivals in 2005. There are not many Foreign restaurant/hotel franchise in Barbados for instance.