With the reduction in the real estate market, including property, the State Statistics Committee published the phenomenal growth in production of building materials (+ 19.4% by July 1 of the previous year). In absolute terms, it is 234.7 million manats. According to experts, this volume has no relation to the real economy, and is aimed at the realization of investment projects financed, as a rule, from the state budget.
This is confirmed by figures: The most rapid growth was shown by the producers of processed marble, travertine and alabaster and articles thereof (3.5 times) - 6,179 tons and asphalt (+ 31.2%) – 196,500 tons, with an inconspicuous growth (0.6%) in cement - 1 million 393.4 thousand tons. Production of gypsum increased 1.3% to 92.2 thousand tons.
For some items, even according to official statistics there is decline: concrete structures were produced in 8.4 thousand cubic meters (minus 47.2%), ready-mixed concrete - 521.3 thousand tons (minus 28.5%), and building bricks - 122 thousand cubic meters (minus 5.5%). --17D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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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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