In January to August 2005 the amount of industrial production in Azerbaijan constituted 26.9bn manats ($5.8bn on average exchange rate of AzM/USD in this period), or 26% 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 3.6% 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 65.3% of all industrial production. The private sector showed a rise of 42.8%.
Over 8 months of the production in the extractive industry comprised 58.2% of entire industrial production, while in refining industry it was 35.2% and the rest amount (1559,1bn manats) fell on energy, gas and water sectors.
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 8 months of 2005. The total production made up 13.4 million tons (+32.3%), while gas вЂ" 3.5 billion cu m (+5.9%).
Private sector produced 8.7 million tons of oil, or 16.4% more than 2004.