. In 2016 the volume of industrial production in Azerbaijan totaled 32.3 billion manat, which is 0.4% less than in comparable prices, than in 2015, the State Statistics Committee said.
At current prices, industrial production grew by 23.2%. It is connected with rising crude oil stock exchanges, increased tariffs for electricity, drinking water, as well as rising prices for goods processing industry in Azerbaijan.
According to the SSC, the volume of industrial production in the non-oil sector grew by 5%, while in the oil sector it decreased by 1.1%. Oil production fell by 1.4%, and natural gas production – by 3.9%.
The share of extractive industries with the structure of industrial production in 2016 was 65.4%, processing industry - 28.2%, production, distribution and supply of electricity, gas and steam - 5.6%, water supply and sanitation and waste management - 0.8 %. ----08D
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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