Azerbaijan’s non-oil industry grows by 3.5%

Business Materials 15 December 2017 15:41 (UTC +04:00)

Baku, Azerbaijan, Dec. 15

By Azad Hasanli – Trend:

Azerbaijan’s non-oil sector showed a 3.5 percent growth in January-November 2017, while the oil sector decreased by 5 percent compared to the same period of 2016, the Azerbaijani State Statistics Committee said in a report.

According to the report, the total volume of industrial production (the volume of produced goods and rendered industrial services) in Azerbaijan amounted to 35.7 billion manats in January-November 2017, which is by 3.8 percent less than in the same period of 2016.

The share of the private sector in the industrial sector was 80 percent.

The volume of production in the mining industry reached 24.9 billion manats (a 4.1 percent decrease for the year) with a 69.9 percent share, the report said.

Some 35.3 million tons of oil and 16.6 billion cubic meters of gas were produced in Azerbaijan in January-November 2017.

Oil production decreased by 6.1 percent while gas production - by 3 percent in January-November 2017 compared to the same period of 2016.

The production volume in the processing industry amounted to 8.9 billion manats (24.9 percent of total industrial output) in January-November 2017, which is by 0.4 percent more than in the same period of 2016.

In this sector, the biggest growth was observed in pharmaceutics - 2.5 times, production of rubber and plastic products – 91.4 percent, spinning industry – 47.8 percent and production of electrical equipment – 50.1 percent.