Azerbaijan's industry produces $34 billion worth of output in 2024

New data published by Azerbaijan’s Statistical Committee point to an increase in industrial output by over 1% in 2024 from the previous year. 

In total, Azerbaijan's industrial enterprises, including private entrepreneurs that are manufacturing industrial goods have produced output levels worth 58.3 billion manats ($34 billion), Caliber.Az reports.

The state report indicates that production levels in the oil and gas sector rose by 0.6%, while the non-oil and gas sector grew by 7.2%. 

The extractive sector accounted for the majority of this industrial output with 64.4% while the remainder had been contributed by the processing sector (29.8%), electricity, gas, and steam production and distributions (4.8%) with water supply, waste treatment, and processing making up 1%.

In the electricity, gas, and steam sector, outputs declined by 0.9%, while water supply, waste treatment, and processing increased by 7.5%.

The report provided a closer look at the extractive sector, commercial oil production decreased by 3.9%, whereas commercial gas production rose by 5.9%.

Key growth highlights in the processing sector include:

• Pharmaceutical production: +100%

• Vehicles, trailers, and semi-trailers: +56.6%

• Furniture: +40.5%

• Metal products: +35.7%

• Electrical equipment: +29.6%

• Clothing: +28.6%

• Wood products: +23.3%

• Metallurgy: +21.7%

• Rubber and plastic: +17.7%

• Beverages: +16.2%

• Construction goods: +15.6%

• Food products: +9.3%.

Declines were recorded in these segments:

• Installation and repair of machinery: -3.7%

• Oil products: -5.7%

• Textile production: -6.4%

• Publishing: -25.4%

• Machinery production: -46.1%

• Other transport equipment: -52.9%.

By Nazrin Sadigova