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Main share of industrial production volume in Baku accounts for extractive sector

Business Materials 5 March 2021 15:32 (UTC +04:00)
Main share of industrial production volume in Baku accounts for extractive sector

BAKU, Azerbaijan, March 5

By Fidan Babayeva – Trend:

The volume of industrial goods and services in Azerbaijan’s Baku city amounted to 2.9 billion manat ($1.7 billion) in January 2021, Trend reports citing the Baku City Statistics Department.

In accordance with the report, 78.7 percent of industrial output was produced in the extractive industry, 18.4 percent - in processing sector, 2.3 percent - in the production, distribution and supply of electricity, gas and steam and 0.6 percent - in the water supply, waste treatment and recycling sector.

The share of the non-state sector in industry reached 85.4 percent. The share of industrial products in total production amounted to 90.3 percent, industrial services - 9.7 percent.

As of February 1, 2021, there is a stock of finished products in the warehouses of industrial enterprises worth 375.3 million manat ($220.8 million). Most of the produced products, taking into account the reserves created in previous periods, were sent to the consumers.

There are the products purchased from other enterprises and intended for resale in the amount of 80.9 million manat ($47.6 million) in the warehouses of industrial enterprises.

The volume of industrial goods and services in Baku amounted to 29.7 billion manat ($17.5 billion) in 2020, decreasing by 4.8 percent compared to 2019.

Some 74.6 percent of industrial output was produced in the extractive industry, 22.5 percent in processing sector, 2.1 percent - in the production, distribution and supply of electricity, gas and steam, 0.8 percent in the sector of water supply, cleaning and waste processing in 2020.

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