The level of industrial production in the year 20015 will drop by 0.9% - up to 22 343 600 000 AZN, predicts the government in the materials on the revenue side of the state budget. The main level of the backlog will be observed in the oil and gas sector (2.1%). In the non-oil sector, the volume of industrial production in the next year will increase by 7.6% due to investment.
As can be seen from the materials of the state budget for 2014, it is assumed even greater backlog - the volume of industrial production is expected to reach 24 988 800 000 manat (minus 1.7% compared to last year). Lag in the oil and gas sector will be at 2.7%. --17D-
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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