Private sector holds main share in country's industrial output

By Azernews

By Leman Mammadova

The private sector had 83.7-percent-share in Azerbaijan's industrial production in the period between January and September 2019, Baku City Statistical Office has reported.

The volume of industrial production and services amounted to 29.6 billion manats ($17.42 billion) in the reported period. As much as 17.7 percent of industrial output accounted for the processing sector.

In January-September, 80.3 percent of industrial output was produced in the mining sector in Baku.

The share of industrial production in the total volume of production made 89 percent and industrial services - 11 percent.

Most of the manufactured products were shipped to consumers, taking into account the reserves created in previous periods. As of October 1, the total reserves of finished goods in the warehouses of industrial enterprises amounted to 273.2 million manats ($160.75 million).

In addition, there are also other products in the amount of 66 million manats ($38.84 million), purchased from other enterprises and intended for sale.

Increasing industrial production in the country is one of the main goals to strengthen the non-oil economy in Azerbaijan.

In this regard, the State Program for the Development of Industry in Azerbaijan for 2015-2020, the successful industrialization policy, activities of industrial parks and districts are yielding positive results.

At present, there are five industrial parks in Azerbaijan - Sumgayit, Garadagh, Mingachevir, Pirallahi and Balakhani, as well as three industrial districts - Neftchala, Masalli and Hajigabul. In addition, work is underway to launch the Sabirabad industrial zone.

The industrial production in Azerbaijan increased by 1.5 percent in 2018. The share of industry in Azerbaijan’s GDP in 2015 was 32.9 percent, in 2016 - 37.1 percent, in 2017 - 40.1 percent, and in 2018 - 44.2 percent.