Balearic industry grew over 8 percent last year

INDUSTRIAL companies based in the Balearics generated 3'520 million euros worth of business in 2004, a growth of 8.1 percent on the previous year.
However, a report released yesterday by the National Institute of Statistics (INE) confirmed that the Balearics, which lays claim to only 0.7 percent of the total figure registered in Spain, is the region of the country with least industrial business, even less than Extremadura (4'500 million euros); La Rioja (4'700 million); and Cantabria (6'600 million). All industrial activity in the Islands increased its income in 2004, with the exception of the food sector, drinks and tobacco where sales fell by 9.6 percent to 616'079 million euros. Processing and extraction businesses, along with fuel, energy and water go to make up a third of the Islands' industrial activity with a net worth of 1'199 million euros. Other sectors which contribute to the region's gross product are mineral products (366'371 million), textiles, ready-made garments, leather goods and footwear (228'516, 7.1 percent more).