The volume of industrial production in Azerbaijan in January-September 2014 amounted to 25 billion 244,600,000 manat (minus 0.6% compared to the figures for October 1 last year), the State Statistics Committee said.
According to official figures, the growth of industrial production in the non-oil sector was 6% and the fall of production in the oil sector was at 2%.
During the reporting period, 71.8% of the total production came from mining, 22.3% - from processing, 5.3% - from the production and distribution of electricity, gas and steam, and 0.6% - from water supply and waste treatment and recycling. --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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