Manufacturing on the rebound says PM Douglas
Resolvers being prepared for shipment to the United States.
Power boards for industrial motors at Jaro Electronics on the C.A. Paul Southwell Industrial Site.
BASSETERRE, ST. KITTS, DECEMBER 19TH 2011 (CUOPM) – Following a 19 percent decline in 2009, manufacturing in St. Kitts and Nevis is on the rebound.
The manufacturing sector recorded a positive growth of 2.2 percent in 2010 – a marked improvement over the decline of 19.6 percent recorded in 2009.
“This is attributed to an increase in the export of electronic components,” said Prime Minister and Minister of Finance, the Rt. Hon. Dr. Denzil L. Douglas.
He said his government considers the creation and maintenance of viable businesses and employment opportunities to be a vital component in the national development agenda, therefore during 2010, a decision was taken to provide tax concessions to a range of businesses inclusive of small manufacturers.
“I am pleased to report that, based on increases in production and exports during the course of this year, it is projected that the sector will record a 6 percent increase in economic output,” said Prime Minister Douglas.
St. Kitts and Nevis has been the leading exporter to the United States. Companies and products are Lutron Liamuiga (dimmer switches and fan speed controls); Harowe Servo (St. Kitts) Ltd (small motors, PC Board Assemblies, Rotor Assemblies and resolvers); Kajola-Kristada (connectors, filters, trap and surface mounts; for the Cable TV and Communications Industry); CSR/DDL (CSR rum/brandy and Brinley flavoured rum products); Jaro Electronics (industrial motors and transformers) and St. Kitts Brush Co. (semi-finish products for polishing dentures and jewelry).