TODAY.AZ / Business

Volume of Azerbaijan's industrial production increase

15 December 2019 [10:06] - TODAY.AZ
By Azernews

By Abdul Kerimkhanov

The volume of industrial production in Azerbaijan increased by 1.4 percent year-on-year in January-November 2019 to reach 42.2 billion manats ($24.8 billion), local media has reported.

According to the State Statistics Committee, the growth of industrial production in the non-oil sector in the reporting period amounted to 13.9 percent.

In the mentioned time span, mining industry accounted 70 percent of the production volume, 25.1 percent - the processing industry, 4.2 percent - the sphere of production and distribution of electricity, gas and steam, 0.7 percent - the sphere of water supply, treatment and waste processing.

As for the structure of the processing industry for January-November 2019, growth was recorded in the production of finished metal products (by 82.4 percent), woodworking products and wood products (by 80.6 percent), tobacco products (by 55.7 percent), drinks (40 percent), printing products (39.9 percent), computers, electronics and optical products (37.7 percent), textile products (36.2 percent), in the installation and repair of machinery and equipment (30.9 percent), in furniture production (by 29.5 percent).

Also in the reporting period, growth took place in the production of chemical products (27.3 percent), pharmaceutical products (24.7 percent), cardboard and paper (23.4 percent), in the production of rubber and plastic products (by 17.1 percent), clothing (11.5 percent), food products (10.4 percent), machinery and equipment (5.2 percent), building materials (4.4 percent), electrical equipment (1.3 percent).

The decline for the reporting period occurred in the production of petroleum products (3.7 percent), other vehicles (10 percent), products of the metallurgical industry (11.7 percent), leather, leather products and shoes (1.3 percent), automobiles, trailers and semi-trailers (by 24.3 percent).

Production growth in the field of production and distribution of electricity, gas and steam in the above mentioned period of time amounted to 2.6 percent, while in the field of water supply, treatment and waste processing it was more than two times higher- 5.9 percent.

The volume of industrial production in Azerbaijan in 2018 amounted to 47.7 billion manats ($28 billion), which is 1.5 percent more than in 2017.

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 3 industrial districts - Neftchala, Masalli and Hajigabul. In addition, work is underway to launch the Sabirabad industrial zone.

The state program envisages modernizing the industry and enhancing its structure, rising export possibilities of the non-oil sector and expanding competitive industrial goods, as well as training highly-qualified staff for new spheres.

The results expected from the state program include transformation of the non-oil industry into the main driver of the economic growth as a result of its modernization and diversification, increase in the share of regions in industrial production, increase in the number of enterprises applying technological innovations, widening of the use of international standards in the industry, etc.

The state program is funded from the state budget, extra-budgetary funds, funds of the National Fund for Entrepreneurship Support and the resources of the Azerbaijan Investment Company. There are also additional minor sources of support provided by local budgets, private investments, foreign direct investments and financial and technical assistance of the international and foreign organizations.


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