Industrial production increased by 2.2%

Baku/19.08.19/Turan: Over seven months of this year, industrial production in Azerbaijan amounted to 27.3 billion manats (16 billion US dollars), which is 2.2% higher than the figure for the same period in 2018, the State Statistics Committee said.

According to official statistics, over the reporting period, production growth in the non-oil and gas sector amounted to 15.8%. Over seven months, oil production decreased by 2.5%, and commercial natural gas increased by 34%. Thus, the share of mining in the industrial sector reached 70%.

The growth in production in the woodworking industry for 7 months amounted to 2.3 times, finished metal products - 59.2%, weaving industry - 40.9%, chemical industry - 30.4%, plastic products - 27.2%, drinks - 52 , 2%, building materials - 7.8%, etc. There was also a decrease in the volume of production of electrical equipment by 7.5%, leather, leather products and shoes - 11.4%, metallurgical products - 17.6%, cars and trailers - 28.3%.

Despite the growth in production indicators, the bulk of the demand for manufactured goods in Azerbaijan is met through imports. Since 2011, the Government has been implementing a number of measures to stimulate domestic production of import-substituting goods. --0--