Industrial production fell by 4%

Baku/17.02.14/Turan : In January of this year, industrial production (including industrial services ) amounted to 2.8 billion manat. This is 4% less than in January 2013. Industrial sector , despite the government's claims about achieving economic diversification is one of the affected areas and it depends mainly on the dynamics of the oil industry.

According to the State Statistics Committee, in January this year, the share of extractive industries in the industrial production was 72.7 %. There was produced 3.6 million tons of salable oil (- 0.2 million tons compared to January 2013 ) and 1.6 billion m3 of natural gas ( 0.1 billion m3) . The volume of production in the oil and gas sector decreased by 5.2 %. According to estimates of the State Statistics, the non-oil sector industrial production grew by 5.6 %.

In 2013, Azerbaijan's industrial production grew by 1.8% , including the non-oil sector - 4.8% , oil and gas sector - 1.1%.

Local experts say that hiding real output exists in the industrial sector , as in other areas of economic activity . For example , last year officially dropped by 4.1% the production of construction fittings . However, it is known that the local market there is only one manufacturer of this product , which , having influential guardians government could neutralize the attention of tax and other regulatory agencies. - 08D-

 

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