The official data of economic indicators from January to June have been promulgated.
According to figures from the State Statistics Committee, the volume of industrial production by June 1 was 10 billion 840.7 million manats (+ 3.7% to June 1 last year). This recorded growth of industrial production in the non-oil sector (+ 12.4%), while in the oil sector the production declined (minus 0.9%).
Nearly two-thirds (63.5%) of the output accounted for the mining industry, 28% - for processing, 7.7% - for the production and distribution of electricity, gas and steam, and 0.8% - for water supply, treatment and recycling of waste.
Almost all (88.4%) of the industrial production was the production of goods, while 11.6% comprised industrial services.
Just over three-quarters (76.3%) of the industrial production were the share of the private sector. --17D-
Economics
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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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