. In January-April 2016 the volume of industrial production in Azerbaijan totaled 9.4 billion AZN, which in comparable prices was by 1.1% less than in the comparable period of 2015, the State Statistics Committee told Turan.
At current prices, industrial production actually increased (+0.9 billion AZN). This was due to the rise in price of some industrial products as a result of the devaluation of the national currency in February 2015.
This year, oil production fell by 1.8%, natural gas production – by 9.8%, electricity production – by 7.6%, as well as some other goods processed.
For the four months the following production indexes increased: food products (+ 2.3%), beverages (+ 8.2%), cigarettes (+ 52.1%), electrical equipment (+ 7.8%), finished metal products (+ 36.5%), textile industry (3.5 times), etc.
The volume of production in the non-oil industry in general grew by 4.2%. -----08D
Economics
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Rice imports to Azerbaijan have soared to unprecedented levels during the January-November 2024 period, reflecting both rising domestic demand and increasing global food prices. Over this period, the country imported 60,400 tons of rice, marking an 18.6% increase in volume and a 35.3% rise in value compared to the same period in 2023.
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Over 17,750 life insurance contracts and 40,661 property insurance contracts were signed through Azerbaijan’s Mortgage and Credit Guarantee Fund (MCGF) between 2022 and 2024, reflecting the growing role of the Fund in strengthening the housing finance and insurance markets. These figures were revealed by Rasim Abdullayev, Director of the Mortgage Lending Department at MCGF, during the seminar "Tools for Supporting Housing Finance and Entrepreneurship."
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The value of paid services provided to the population in Baku reached 6.94 billion manats in the first eleven months of 2024, reflecting a real-term increase of 9.2% compared to the same period in 2023, according to data from the Baku City Statistical Department.
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According to data from the Baku City Statistical Department, the retail trade turnover in Azerbaijan’s capital, Baku, increased by 5% year-on-year from January to November 2024, reaching 31.6 billion manats. This growth reflects the steady recovery of the economy and consumer confidence amid broader market stability.
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