Azerbaijan's non-oil sector grows 3.3%

Business Materials 17 March 2015 16:44 (UTC +04:00)

Baku, Azerbaijan, Mar. 17
By Elyaz Shafiyev - Trend:

The total volume of industrial production (the volume of produced goods and rendered industrial services) in Azerbaijan amounted to 3.700 billion manat in January-February 2015, which is 2.3 percent more than in the same period of 2014, the Azerbaijani State Statistics Committee's report as of January-February 2015 said.

Azerbaijan's non-oil sector showed 3.3 percent growth, while the oil sector increased by 2.1 percent compared to January-February 2014.

During the reporting period, the volume of production in the mining industry hit 2.215 billion manat with a weight of 59.9 percent of the entire industrial production, which is 5.4 percent more than in January-February 2014.

Oil production volume amounted to 6.953 million metric tons, while natural gas production was 4.765 million cubic meters.

Oil production increased by 0.8 percent, while gas production decreased by 5.3 percent compared to January-February 2014.

The production volume in the processing industry amounted to 1.082 billion AZN (29.2 percent of total industrial output) in January-February 2015 or by 9.8 percent less than in January-February 2014.

The growth was observed in the production of leather and leather goods - threefold, jewelry, music, sports and medical equipment - by 79.4 percent, clothing - by 77.4 percent, electronic equipment - 73.6 percent.

Production, distribution and supply of electricity, gas and steam hit 9.9 percent of the total production volume, but water supply, treatment and recycling of waste - 1 percent in January-February 2015.

The official exchange rate is 1.0487 AZN/USD as of March 17.