In the seven months of this year the volume of industrial product in Azerbaijan amounted to 15 billion 771.2 million manats.
According to calculations of the State Statistics Committee, industrial production grew by 3.5%, while, according to the same statistics, the release of industrial goods decreased at current prices by about 9.5 billion AZN or 37.4%.
According to the SSC calculation at comparable prices, industrial product in the non-oil-gas sector grew by 14.7% to 4 billion 377 million manats. During the same period in 2014 the non-oil-gas sector produced goods in the amount of 5 billion 243.7 million manats.
The share of extractive industries in the structure of industrial production amounted to over seven months in 2015 to 63.8%, processing industry - 28.5%, electricity, gas and water sector - 6.9%. -08D-
Economics
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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Azerbaijani President Ilham Aliyev hosted Georgian Prime Minister Irakli Kobakhidze on Friday for high-level talks aimed at further developing the strategic partnership between the two neighboring countries in the South Caucasus.
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