In the first eight months of this year the volume of industrial production in Azerbaijan amounted to 17.6 billion manats. According to estimates of the State Statistics Committee, the real growth of the industry compared to the same period of 2014 was 2.3%. However, in value terms, the production fell by 5 billion manats.
According to the SSC, the production of non-oil industrial output amounted to 4 985 200 000 manats, which in stable prices was by 11.3% over the same period last year. In current prices the growth was at 6.9%. The share of non-oil enterprises accounted for 28.1% of industrial output from the beginning of the year.
In August compared to July, the industrial production fell by 6.8%.
In January – July the industrial enterprises had an average of 183.1 thousand workers, 0.4% less than in the same period of 2014. -----08D
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review