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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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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