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Over 80% of Azerbaijan’s industrial production accounts for private sector

Business Materials 21 September 2018 20:43

Baku, Azerbaijan, Sept. 21

By Azad Hasanli - Trend:

In January-August 2018, the value of industrial production (value of manufactured goods and rendered services of industrial nature) in Azerbaijan totaled 31.6 billion manats, which is 1.9 percent more than for the eight months of 2017, reads a report of Azerbaijan’s State Statistics Committee for January-August 2018.

The non-oil sector of Azerbaijan’s industry increased by 10.8 percent, and the oil sector grew by 0.6 percent compared to the same period last year.

The share of the private sector in the industrial sphere was 82.8 percent.

The production value in the extractive industry for the reporting period amounted to 23.1 billion manats (a 0.2 percent growth for the year) with a specific weight of 73 percent.

During the reporting period, Azerbaijan produced 25.8 million tons of oil, while production of natural gas for consumption amounted to 12.1 billion cubic meters.

During this period, oil production in Azerbaijan increased by 0.9 percent compared to the same period of 2017, and gas production grew 0.5 percent.

The output value in the processing industry was 7.03 billion manats (22.3 percent of the total value of industrial production), which is 11.9 percent more than in January-August last year.

In this sector, the greatest growth was observed in the production of cars, trailers and semitrailers - 32 times, electrical appliances - almost three times, tobacco products - 2.6 times, printing products - 2.8 times.

The share of production, distribution and supply of electricity, gas and steam in the total volume of industrial production accounted for 4 percent, while the share of water supply, waste treatment and processing accounted for 0.7 percent.

(1.7 manats = $1 on Sept. 21)

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Follow the author on Twitter: @AzadHasanli

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