Industrial production increased by 0.9%

In January-July 2016 the volume of industrial production in Azerbaijan totaled 17.6 billion manat, which is by 0.9% more than in the same period last year, the State Statistics Committee. Industrial production increased by 0.9%.  In the oil sector, industrial production grew by 0.7%, in the non-oil sector - 2.6%. The share of extractive industries in the structure of industrial production for the mentioned period was 65.1%. The growth was 0.9%. The volume of oil production increased by 0.7%,  the production of natural gas was reduced by 8%. The share of the processing industry accounts for 28.6% of industrial production.  Over the seven months since the beginning of the year processing sector showed an increase of 3.8%. Manufacture of tobacco products increased by 10.5%, manufacturing weaving industry - 2.8 times, clothes - 9.6%, metal products - 2.3%, finished metal products - 17.4%, etc.  There is a reduction  in some types of industrial products: drinks - 12%, chemical products - 11.5%, rubber and plastic products - 16.6%, construction materials - 21.3%, etc. On  August 10, at the opening of the plant for the assembly of bicycles in the Ismayilli region, President Ilham Aliyev said that industry and agriculture are two important areas to diversify the country's economy in the coming years. 08D