BAKU, Azerbaijan, Apr. 11
By Fidan Babayeva - Trend:
The volume of oil and gas production in Azerbaijan amounted to 35.4 billion manat ($20.8 billion) in 2019, amounting to 75.7 percent of country’s total production, Trend reports citing the report on the activities of the Cabinet of Ministers in 2019.
According to the report, the share of the non-oil production amounted to 11.3 billion manat ($6.6 billion) or 24.3 percent of country’s total production.
In 2019, 88.6 percent of total production accounted for industrial production. Meanwhile, investments in the industrial sector amounted to 8.6 million manat ($5 million), of which 5.4 million manat ($3.1 milion) invested in the oil and gas sector, and 3.1 million manat ($1.8 million) invested in the non-oil and gas sector. Herein, 50.2 percent of all public investments were directed to industrial production.
The share of the private sector in industrial production increased up to 82.1 percent.
The number of employees in the industrial sector amounted to 13.2 percent of all employees in the country, reaching 217,500 people. The average monthly nominal wage of employees in the industrial sector amounted to 1,017 manat ($598,235), which is 60.2 percent more compared to the overall indicator in the country.
According to the United Nations (UN), Azerbaijan with an indicator of 41.4 percent of the country's GDP in 2019 precedes Norway (26.6 percent), Russia (23.6 percent), Turkey (22.3 percent) and Poland (21, 9 percent).
($1 USD = 1.7 AZN on Apr. 11)
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