In the first 11 months of 2016 the volume of industrial production in Azerbaijan totaled 28.8 billion manat, which is 0.6% less than in the same period last year in comparable prices.
In nominal terms, industrial production increased by 4.8 billion manat.
The non-oil-gas sector accounted for AZN 7 billion 668.3 million of industrial production. This sector recorded growth of 4.9%.
According to the State Statistics Committee, the extracting industry accounted for 65.4% of industrial production. The production fell by 0.8% in this industry.
In the processing sector, the production (8.2 billion manat) grew by 1.3%.
In annual terms, the number of employees in industry increased by 10,100 people and reached 192,300. But 1,000 people were sacked in the extracting industry. -----08D
Economics
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Azerbaijani President Ilham Aliyev inspected a fleet of specialized municipal service vehicles in Baku on Thursday, as part of efforts to modernize urban infrastructure and improve environmental sustainability.
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Azerbaijan's National Depository Center (NDC) has announced a series of strategic goals and digital innovations for 2024-2026, aimed at fostering trust, expanding market access, and diversifying investment instruments in the country’s capital markets.
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The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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