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Industrial production surges in Azerbaijan

Business Materials 3 July 2020 14:48 (UTC +04:00)
Industrial production surges in Azerbaijan

BAKU, Azerbaijan, July 3

By Fidan Babayeva – Trend:

The industrial production stabilized in Azerbaijan by the beginning of the second quarter of 2020, has increased by three percent compared to the same period of last year, Trend reports referring to the report entitled “Azerbaijan after the pandemic: development scenario (economy, politics)”.

The report was prepared by head of special projects of the Caspian Expert Club, deputy director general of Trend News Agency Gulnara Mammadzade and research associate at the Institute of Economics of the Russian Academy of Sciences Alexander Karavayev.

In accordance with the data, the growth of industrial production in the non-oil sector in the reporting period amounted to 16.8 percent.

In the structure of the processing industry from January through April 2020, growth was observed in the production of cars, trailers and semi-trailers (by 4.7 times), computers, electronics and optical products (by 2.6 times), metallurgical products (by 2.3 times), drinks (by 8.3 percent), other vehicles (by 35.1 percent), pharmaceutical products (by 60.7 percent), woodworking products and wood products (by 48.6 percent), tobacco products (by 18.9 percent), chemical products (by 24.9 percent), rubber and plastic products (by 20 percent)ç the official data said.

The production volume of paper and cardboard increased by 19.3 percent, the production of electrical equipment by 20.6 percent, the production of clothing by 3.6 percent, the production of oil products by 5.1 percent, and the production of food industry products by 8.1 percent, the production of finished metal products by 4.4 percent during the reporting period.

Some 63.1 percent of the production volume accounted for the mining industry, 30.5 percent - the processing industry, 5.6 percent - the production and distribution of electricity, gas and steam, 0.8 percent - water supply, waste treatment and recycling from January through April 2020.

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