INDUSTRIAL GROWTH IN AZERBAIJAN REACHES 23.1% IN JAN-JUL

In January to July 2005 the amount of industrial production in Azerbaijan constituted 22,409bn manats ($4650,907m on average exchange rate of 4818.2 AzM/USD in this period), or 23.3% more than the industrial production in 2004, the government told Trend.

The government forecasts 19.7%-industrial growth in Azerbaijan in 2005, while actual figure is 3.5% more than the forecast. The amount of industrial production comprised 70.8% of the forecast (31,649bn manats).

In this period the share of private sector made up 65.9% (14759.5bn manats) of all industrial production. The private sector showed a rise of 38% against 2.2% in the state industry.

Over 7 months of the production in the extractive industry (12548,1bn manats) comprised 56% of entire industrial production, while in refining industry (8303,8bn manats) it was 28.1% and the rest amount (1559,1bn manats) fell on energy, gas and water sectors. The amount of production in extractive industry grew 28.1%, in refining industry вЂ" 15.5%, in energy, gas and water sectors вЂ" 5.2%.

In 2005 the government forecast the production in the extractive industry to comprise 15,047,7bn manats with a rise of 26.5%, in the refining industry вЂ" 14131.3bn manats with a rise of 17.5%, in energy, gas and water sectors вЂ" 2,470bn manats with a rise of 9.8%.

The State Statistics Committee explained the increase in the amount of industrial production with a growth in oil sector (production and refinery), which comprised 65.9% of industrial production with a rise of 26.2% over 7 months of 2005.

The total production made up 11344,400 tons (+29.5%), while gas вЂ" 3018.6m cu m (+5.5%). Private sector produced 6.1m tons of oil and 734m tons of gas.

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