Dramatic Decreasing in Azerbaijan Industry

Dramatic Decreasing in Azerbaijan Industry

Industrial production fall 3,3 % and oil sector down 5,4 %

23.0 billion manat products were produced in industrial sector of Azerbaijan in the first 8 months of 2012. Industrial production decreased by 3,3 % in this period compare the same stage in 2011.

Meanwhile, the State Statistical Committee reports that production in non-oil sector grew by 7.9%, while production in oil sector dropped 5.4%. GDP increased only 1,3 % in this period. The government reports that 76.5% of industrial production was in mining field, 18.2% – in processing sphere, 4.8% – in electricity, gas and steam production, distribution and supply section, 0.5% – in water supply, waste treatment and processing.

During 8 months, oil extraction made 29.4 million ton, marketable natural gas – 11.4 bcm.
Oil output constituted a drop of 2.3m tonnes over the same period of the last year. It is reminded that oil production in Azerbaijan made 45,400,000 tonnes in 2011, a drop of 5,434,000 tonnes over 2010.

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