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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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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