In 2014, which the government declared the Year of Industry, the volume of industrial production in the city of Baku totaled 27.6 billion manat. This is 8.6% less than in the previous year.
According to the Statistics Department of Baku, the share of the mining industry in general industrial product of the city was 79.3%. Processing plants produced 16.1% of the industrial product of Baku. In this case, 80.4% (22.2 billion manat) of industrial products were produced in the private sector, which also includes oil produced by foreign companies.
According to the State Statistics Committee, last year the volume of industrial production in Azerbaijan totaled 31.9 billion manat. Thus, 86.5% of this product accounted for the capital. ----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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