Business View Caribbean - June 2015 23
uct showcasing and promotion, national campaigns
and public sensitization are but some of the avenues
the BMA uses to advance the manufacturing sector lo-
cally, ensuring a strong sector and, inevitably, a strong
national economy.
In spite of many challenges, Barbados is ranked 44th
on the Global Competitiveness Index thanks to the na-
tional infrastructure’s facilitation of functioning institu-
tions, good extensive use of information communica-
tion technology, an excellent educational system and
a sophisticated business community.
Manufacturing has been recognized as a major con-
tributor to the island’s economic development, and
the sector is key for the creation of jobs in industry
while at the same time reducing leakage of foreign ex-
change. It has been researched and documented that
for every job in the manufacturing sector, two jobs are
produced in the services sector.
The reality is that manufacturing is still a major source
for jobs and an earner of foreign exchange.
The importance of exporting is paramount for the
country’s economic recovery and the manufacturing
sector has a primary role to play in this arena. The
Association’s export initiatives include trade shows/
exhibitions to display the products and services of
its members with both inward and outward missions.
The importance of trade partners is undeniable, and,
according to statistical data, Barbados’ main exports
during 2012 were sent to the following trading part-
ners:
Trinidad & Tobago: 20.8 percent
U.S.: 11.9 percent
St. Lucia: 9.7 percent
St. Vincent & the Grenadines: 6.0 percent
Jamaica: 5.6 percent
Antigua & Barbuda: 4.9 percent
St. Kitts & Nevis: 4.6 percent
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