Committee names reasons for reduced industrial production growth rates in Azerbaijan in 2010

Business Materials 26 January 2011 17:54 (UTC +04:00)

Azerbaijan, Baku, Jan. 26 / trend E. Ismayilov /

The slight growth in industrial production in Azerbaijan as of 2010 is associated with low growth in production in the oil and gas sector, Chairman of the State Statistics Committee Arif Veliyev said at a press conference on the results of last year.

He said that the industrial production in the country increased by only 2.6 percent, hitting 27.4 billion manat in 2010. While the industrial production growth in non-oil sector hit 6.6 percent, exceeding 5 billion manat.

As of 2010, roughly 75.8 percent of industrial production fell to the extractive industry.

In particular, roughly 50.8 million tons of oil and 16.7 billion cubic meters of marketable gas were extracted.

He said that the decline in the growth of agricultural production was observed in 2010. The agricultural output declined by 2.2 percent, reaching 3.88 billion manat compared to to 2009.

He explained that the decline in production of the agricultural sector by natural disasters occurred in Azerbaijan last year.

"Mudflows in the country last year influenced agricultural production," he said.