In January and February of this year, industrial production and services in Azerbaijan 5.4 billion manat, which is 3.7% less than that for the comparable period in 2013 . Production cuts in the "Year of the industry" are associated with reduced oil production.
In the State Statistics Committee told Turan that, despite the overall decline in industrial production in the non-oil sector, industrial production grew by 8.8%.
The share of extractive industries in the industrial structure of the product dropped to 71.6%. Share of processing industry reached 21.1%. The share of the private sector accounts for 79.9 % of the industrial product.
According to the Ministry of Economy and Industry, in 2013 Azerbaijan was commissioned more than 30 industrial enterprises. And this year will be open at least 90 industrial enterprises.
In 2013, the number of industrial workers in Azerbaijan rose by 5.7% and reached 183.100 people. - 08D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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