Rise of Azerbaijan's industrial production resumed

Azerbaijan’s industrial production dropped by 4.3% in February 2012 compared to January’s index (AZN 3.064 bn). The record index for the entire history was registered in October 2011 (AZN 4.797 bn).

The State Statistics Committee informs that in January-February 2012 country’s industrial production totaled AZN 5.9 bn ($7.593 bn on average exchange rate of AZN 0.79 to the US dollar) which is by 0,2% more versus January-February 2011. in January zero growth was recorded versus last year’s same term. In February volume of industrial production made AZN 2.993 bn.

For comparison, in 2011 industrial production totaled AZN 43.728 bn ($43.728 bn) that was by 5% less than the 2010 figure.

In December 2011 industrial production was AZN 3.379 bn against AZN 4.797 bn in October (record for the entire history). In 2010 industrial production reached AZN 27.4 bn (+2.6%), including AZN 2.76 bn in November (the 2010 best index per month).

In January 2012 industrial production in the state sector made up AZN 553.48 million with year-on-year rise of 6.1% and AZN 2.5 bn with decrease of 1.3% in the non-state sector. The share of state sector was only 18.1% of overall industrial manufacture and the share of non-state sector 81.9%.

This January-February production in extracting industry reached AZN 4.69 bn or 78.2% of entire industrial output, processing industry AZN 939.1 million or 15.7%, energy and gas sector AZN 339 million or 5.6% and the rest volume of AZN 29.7 million or 0.5% fell on the share of water supply, sewage treatment and utilization of hard waste. Production in extracting industry fell by 3.6%, increase in processing industry by 24.1%, in electric power and gas sectors by 14.8%, and by 10.1% in water supply and waste utilization.

In January-February 2012, as well as following 2010, the trend when industrial output rise lagged from general growth of GDP continued. In January-February GDP grew by 0.5% against 0.2%   in the industrial sector.


/abc.az/