In January-August this year, the volume of industrial production in Azerbaijan made up AZN 23 million. This is 3.3% lower than in the comparable period of 2011.
The State Statistics Committee told Turan that the share of non-oil sector accounts for AZN 4.2 bn of industrial production. In this sector, production increased for eight months by 7.9%. In the oil sector, because of the decline in mining, the production decreased 5.4%.
The share of mining industry from the beginning of the year accounts for 76.5%, processing industry - 18.2%, manufacturing, distribution and supply of electricity, natural gas and steam - 4.2%, etc. -08D-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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