Azerbaijan's industrial sector sees varied performance in production trends

Azerbaijani industrial enterprises and private entrepreneurs generated industrial goods valued at 31.5 billion manats in the first half of 2024, marking a 9.2 per cent decrease compared to the same period last year.

Production in the oil and gas sector saw a modest increase of 0.3 per cent, while the non-oil and gas sector experienced a more significant growth of 7.4 per cent over the corresponding period of the previous year, Caliber.Az reports citing the Azerbaijani State Statistics Committee.

Some 65 per cent of industrial products were manufactured in the mining sector, 29.2 per cent in processing, 4.9 per cent in electricity, gas, and steam production, and 0.9 per cent in water supply, waste treatment, and recycling.

In the extractive sector, commercial oil production declined by 4.9 per cent, while commercial gas production increased by 5.3 per cent.

Within the manufacturing sector, notable increases were observed in the production of computer, electronic, and optical products by 74.4 per cent, pharmaceutical products by 53.5 per cent, cars, trailers, and semi-trailers by 48 per cent, construction materials by 35.7 per cent, metallurgical products by 32 per cent, furniture by 31 per cent, rubber and plastic products by 26.7 per cent, electrical equipment by 18.5 per cent, tobacco products by 18 per cent, beverages by 14.9 per cent, finished metal products by 13.9 per cent, clothing by 8.1 per cent, chemical products by 7.8 per cent, food products by 4.6 per cent, paper and cardboard by 4.5 per cent, and leather products and shoes by 4.4 per cent. Production of oil products increased by 1.9 per cent.

During the reporting period, wood processing and the production of wood products decreased by 6.7 per cent, while textile product manufacturing declined by 13.9 per cent. Installation and repair of machinery and equipment saw a decrease of 16.2 per cent, production of printing products decreased by 20.8 per cent, machinery and equipment production fell by 27.5 per cent, other vehicles production dropped by 48 per cent, and other industrial products decreased by 61.2 per cent.

Additionally, the production, distribution, and supply of electricity, gas, and steam decreased by 1.9 per cent, whereas water supply, waste treatment, and recycling volumes increased by 6.2 per cent during the reporting period.

Kheyraddin Nasirzade