BMA seeks forex gains despite stiff competition

Manufacturers warned on Friday that industry layoffs could become unavoidable if rapidly rising operating costs continue to outpace sales, as they look towards the winter tourist season and stronger exports for relief.

“Costs are rising; but hopefully, with the coming tourist season, things will improve. The costs are rising, and if the costs are rising, there is only so much they [manufacturers] can do,” President of the Barbados Manufacturers Association (BMA), Rosie Noel, told Barbados TODAY.

“We are hoping to keep costs down as much as possible, but it’s hard with what’s going on in the world. If the costs are up, and the sales are not, it’s a possibility [of layoffs]; but that is a last resort, usually, for us manufacturers. That’s the last resort. We try to work as we see fit.”