Major share in industrial production in Baku falls on mining sector

Economy Materials 29 March 2023 19:58 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 29. The volume of goods and services in industrial production from January through February 2023, in Baku amounted to 11 billion manat ($6.4 billion), Trend reports via the Baku City Statistics Department.

According to the department, 84.1 percent of industrial production fell on the mining industry, 13.2 percent on the manufacturing industry, 2.1 percent on production, distribution and supply of electricity, gas and steam, while water supply, treatment and recycling of waste products reached 0.6 percent. At the same time, share of the private sector in this amounted to 89.7 percent.

As of March 1, 2023, there were stocks of finished products in the warehouses of industrial enterprises worth 499.5 million manat ($293 million).

Moreover, other products purchased from other enterprises and intended for sale worth of 49.5 million manat ($29 million) were also in the warehouses of industrial enterprises.

The volume of goods and services in industrial production, in 2020, in Baku amounted to 75 billion manat ($44 billion), and the volume of trade turnover, in the reporting year, in Baku, increased by five percent compared to 2021 and amounted to 30.8 billion manat ($18.1 billion).

According to State Statistical Committee of the Republic of Azerbaijan, industrial enterprises and individual entrepreneurs in Azerbaijan manufactured products worth 86 billion manat ($50 billion) in 2022, which is 1.1 percent less than in the same period last year..