Industrial Production Fell in Private Sector

In the first nine months of this year, industrial production in the private sector, which generated more than 81 % of industrial output of the country decreased compared to the same period of 2012 by 0.1 %. In the public sector, according to the State Statistics Committee, the increase was 5.2%.

According to official data, the decline in production was recorded at manufacturing tobacco products (-38.2 %), textile (-34.8 %) and apparel (-21.4 %), industry, wood processing (26.9 %), the production of paper and paperboard (4.2%), rubber and plastic products (-7.3 %), metallurgy (-0.1 %). Production of finished steel was cut in half, and furniture production reduced 0.2 %.

The share of the mining industry in the structure of industrial production with 18.8 billion manat is 74.3%. The share of processing industry accounts for 19.9 % of industrial product. The volume of production of petroleum products (1 589.5 million manat, 6.2 %) is approximately one-third of the product processing industry.

In just nine months of this year, industrial production in Azerbaijan made AZN 25 295.8 million, an increase of 0.9 %.

Experts argue that part of the shadow economy in Azerbaijan lies in the industrial sector. Many large companies are owned by oligarchs, who own two sets of accounting books to conceal the actual production volumes for tax evasion. - 08D-