For the first two months of 2017, the volume of industrial production in Azerbaijan amounted to 6.5 billion manat, which is 3.7% less in comparable prices than in the same period last year. The decline in production is the result of deterioration in the performance in the oil sector.
According to the State Statistics Committee, the oil sector weakened by 5.1%, while in the non-oil sector, a 5% growth was achieved.
The share of extractive industry in the entire industry amounted to 71.8% in January and February. Oil production fell by 7.3%, and commercial natural gas increased by 5.3%. ------08D
Economics
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