Azerbaijan’s Oil Industrial Growth again Leaves behind Non-Oil Growth

Business Materials 18 July 2008 12:44 (UTC +04:00)

Azerbaijan, Baku, 18 July / Trend corr. I.Khalilova/ In the first half of 2008 industrial production in Azerbaijan totalled AZN 15,376mln, which is 13.8% more than in the same period of 2007, State Statistical Committee reported on 16 July. Industrial production in non-oil sector grew 12.9%, in oil sector -14%.

In the accounted period, extractive industry growth rate amounted to 14.5% (AZN 12,140mln with 78.9% percentage of total industrial production). However, processing industry growth rate comprised 10% (AZN 2,580mln with 16.8% percentage of total industrial production). Electric power, gas and water sectors' growth rate totalled 8.2% (AZN 655.52mln).

Oil production growth accounted to 14%, gas production growth - 72.8%, oil processing growth - 1.5%.

Metallurgy industry experienced a rise of 35.8%, wooden products - 6.6%, food - 8.9%, chemical products - 45.8%, leather industry - 41.9%, etc.

Non-state sector's percentage totalled 81.7% (AZN 12,569mln) of total industrial production in the first half of 2008. Non-state sector's growth comprised 16.1%, state industry growth - 4.5%.

On 16 July, official exchange rate totalled 0.8054 AZN/USD. 

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