Industrial enterprises of Azerbaijan, including entrepreneurs without legal entity status, in January - August produced goods worth 22.6 billion manat (minus 1.2% for September 1 last year). The State Statistics Committee notes that almost three quarters (72.1% or 16.2 billion AZN) products accounted for mineral extraction at 28.6 million tons of oil and 12.3 billion cubic meters of gas.
In the field of processing of products there was produced 5 billion manat, where the greatest growth (+ 78.9%) was recorded in the jewelry business and the production of musical instruments, sports and medical equipments. Growth of tobacco products was 75%.
Record (+ 91.1%) increase was in the rate of production of automotive and trailers to cars due to the joint venture (China and Belarus), which only assemble finished products from these countries. For reference - the assembly of Belarusian tractors tripled compared to last year. Manufacture of wearing apparel (by Baku Home Sewing Plant) increased by 45.7%, electrical equipment - by 20.8%, construction materials - by 18.9%. Processing of non-oil products gave 3.3 billion manat or 14.6% of total output. The production, distribution and provision of electricity, gas and steam provided 1.2 billion manat.
Production in the non-oil sector grew by 5.4% and that in the oil sector fell by 2.4%. --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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