In the past year the volume of industrial production in Azerbaijan totaled 26.2 billion manats, 17.9% down compared to the year 2014 in nominal terms. According to estimates of the State Statistics Committee, the real growth of the industry in 2015 was 2.4%.
Industrial production in real terms in the non-oil sector grew by 8.4% last year, while in the oil sector it remained unchanged. The share of non-oil sector in the industrial product amounted to only 29.2%. --08B
Economics
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Azerbaijan’s COP29 Operating Company is advancing green energy initiatives with partners to power the Baku Olympic Stadium, host of the upcoming COP29 climate summit, and to promote sustainability across Azerbaijani regions.
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Azerbaijan's car market has shown mixed trends in 2024, with a sharp drop in the volume of imported vehicles but a rise in overall import costs, according to data for the first nine months.
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Azerbaijan’s real estate market, particularly in Baku, continues to see significant price growth in 2024, with apartment prices up by 9.2% in the first nine months of the year. The trend is largely driven by supply shortages, inflation, and rising demand from investors, according to market analysts.
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The Small and Medium Business Development Agency of Azerbaijan (KOBİA) has focused its support efforts on the Baku economic region, approving 220 business plans from January to September 2024, underscoring its commitment to fostering business growth within the country.
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