In the first quarter of 2016 the Azerbaijani industrial enterprises produced goods amounting to 7 billion manats, which in comparable prices was by 0.6 billion AZN lower than in the same period of 2015, the State Statistics Committee said.
In real terms the industry grew by 1.2 billion manats. However, this is a consequence of the devaluation, resulting in increased sales prices in industry.
According to SSC, the decline in industrial production was due to the decline in oil production by 1.5%, natural gas – by 7.9% and electricity production - by 6.7%.
In general, in the oil and gas sector the industrial production decreased by 1.3%, while in the non-oil-gas sector it increased by 5.1%.
The share of non-oil-gas industry in the country's industry was 28.2% in the first quarter of 2016 versus 31.9% in Q1, 2015. ----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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