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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Azerbaijan’s Cabinet of Ministers approved a detailed framework for the preparation of sector-specific strategic plans aimed at guiding the country’s economic development over the medium term.
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Azerbaijan’s ADY Express, a subsidiary of Azerbaijan Railways CJSC, signed several strategic agreements on the sidelines of the Logitrans Türkiye 2024 exhibition in Istanbul, Turkey, reinforcing its commitment to expanding freight transport services along the Middle Corridor.
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Azerbaijan plans to establish state-of-the-art battery storage facilities for green energy with a total capacity of 350 MW within the next 4-5 years, a well-informed source in the Ministry of Energy told Turan.
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Shareholders of the Caspian gas condensate "Absheron" project plan to approve the Front End Engineering Design (FEED) in December, laying the groundwork for full-scale development of the field, an informed source told Turan.
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