New decline in oil industry and Growth in non-oil sector in Azerbaijan

New decline in oil industry and Growth in non-oil sector in Azerbaijan

The State Statistics Committee of Azerbaijan reported that oil and gas industry declined by 1.7% in last 10 months of 2014 compared to the same period in previous year. Monthly decline has been observed in 2014. The highest declined was registered in January, 2014: energy sector declined 5.2 % in the first month compared to the same month of 2013.

Meanwhile non-oil industry grew by 6.3% in the first ten months of 2014 compared to the same period of 2013. The non-oil industry increased of 6% in September, 5.4% in August, 4.4% in July, 4.2% in June, 8.8% in February (peak of rise in 2014).
The committee reported that industrial production in Azerbaijan was 27.8 billion manat ($35.64 billion US) in the first ten months of 2014. The industrial production has declined in the indicated period, too. Volume of production in processing sector was formed 22.8% of total products of industry, growth were mainly observed in the production of food products, tobacco products, weaving, clothing, chemistry, construction materials, ready metal products, electric equipment, automobile and trailers, other transport means and etc. 5.3% of produced industry products were share of production, distribution and supply of electricity, gas and steam, 0.7% water supply, treatment and processing of waste.

Volume of production in non-oil sector of industry increased by 6.3% compared to January-October of previous year, it was decreased by 1.7% in oil-gas sector. 93.0% of total industry production was share of goods (commodities), 7.0% industrial services, 80.6% of products were produced in private sector.

Azerbaijan’s oil production was 35.6 million tons (by 3.6 million tons in January, March and May, AZN 3.2 million tons in February, 3.7 million tons in April, July and August and by 3.5 million tons in June, September, and October). 43.1 million tons were produced in 2013 and it was 42.985 million tons in 2012.

Gas production reached 15.5 billion cubic metr (by 1.6 billion cubic metr in January and in April, by 1.5 billion cubic metr in February, May, June, August and September, 1.4 billion cubic metr in March, 1.7 billion cubic metr in July and October). It was 17.9 billion cubic metr in 2013 and 17.24 billion cubic metr in 2012.

© CESD, 2014

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