In the first half of the year the volume of industrial production and services amounted to 16.9 billion manat, which is 2.4% less than in the comparable period of 2013. However, only industry in June decreased by 6.7%.
According to the State Statistics Committee, in January-June, the volume of production in the mining industry (12.3 billion manat) decreased compared to the same period in 2013 by 2.7%, including the oil and gas industry – 2.5%. In the processing industry (3.6 billion manat) production declines since April and in the first half of the decline was 4.8%.
In the non-oil sector was achieved 4.2% growth.
Since the beginning of the year the production included tractors - 603 units (+46%), plows - 569 (+17.6%), trucks - 125 (-15%) and cars – 1,321 (+4.2 times). - 08D-
Economics
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Fitch Ratings has upgraded Azerbaijan’s long-term foreign currency issuer default rating (IDR) from “BB+” to “BBB-,” signifying an investment-grade status with a stable outlook. Despite this positive move, the agency highlighted several economic hurdles that could impact the country's progress.
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The number of overnight stays in hotels and hotel facilities in Azerbaijan surged by 35.8% in the first half of 2024 compared to the same period in 2023, reaching 1.851 million, according to the State Statistics Committee of Azerbaijan.
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Azerbaijan will unveil a unified electronic portal for real estate early next year, according to Nigar Alimova, Chairman of the Board of the State Cadastre and Real Estate Register at the State Property Service of the Ministry of Economy.
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AzerGold CJSC’s sorption leaching plant, located at the Chovdar Integrated Regional Processing Site (CHIRUP) in Dashkesan district, has commenced full-scale operations, the Ministry of Economy announced.
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