Azerbaijan's non-oil industry grows by 10%

Business Materials 20 November 2018 15:39 (UTC +04:00)

Baku, Azerbaijan, Nov. 20

By Sara Israfilbayova - Trend:

In January-October 2018, the value of industrial production (value of manufactured goods and rendered services of industrial nature) in Azerbaijan totaled 39.96 billion manats, which is 1.5 percent more than for the ten months of 2017, reads a report of Azerbaijan’s State Statistics Committee for January-October 2018.

The non-oil sector of Azerbaijan’s industry increased by 10 percent, and the oil sector grew by 0.2 percent compared to the same period of 2017.

The share of the private sector in the industrial sphere was 83 percent.

The production value in the extractive industry for the reporting period amounted to 29.3 billion manats (a 0.1 percent growth for the year) with a specific weight of 73.1 percent.

During the reporting period, Azerbaijan produced 32.25 million tons of oil, while production of natural gas for consumption amounted to 15.59 billion cubic meters.

During this period, oil production in Azerbaijan stayed the same compared to the same period of 2017, and gas production grew 3.5 percent.

The output value in the processing industry was 8.79 billion manats (29.5 percent of the total value of industrial production), which is 10.1 percent more than in January-October 2017.

In this sector, the greatest growth was observed in the production of cars, trailers and semitrailers – 26.5 times, printing products - 3.9 times, electrical appliances and tobacco products - 3.5 times, and furniture - 3.1 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 3.9 percent.

(1.7 manats = $1 on Nov. 20)