Minister: Industrial production in Azerbaijan up by 22 times in last 20 years

Azerbaijani Minister of Economy Mikayil Jabbarov has written that the annual value of industrial products produced in Azerbaijan has increased by 21.6 times - from four billion manats ($2.3 billion) to 86.4 billion manats ($50.8 billion) over the past 20 years.

“The private sector's share in total industrial output was 87.6 per cent in 2022 compared to 54.9 per cent in 2002. The production volume in the country’s non-oil and gas industry increased from 1.6 billion manats ($941 million) to 17.7 billion manats ($10.4 billion) in 2002-2022, increasing by 4.3 times,” Report informs citing Jabbarov’s article entitled “Azerbaijan: a winning country with strong economic potential”, published in “Azerbaijan” newspaper.

Jabbarov wrote that one of the important mechanisms aimed at developing industry is the creation of industrial zones, and industrial parks on the president’s initiative.

“There are seven industrial parks in the country - Sumgayit Chemical Industrial Park, Balakhani Industrial Park, Mingachevir Industrial Park, Garadagh Industrial Park, Pirallakhi Industrial Park, Aghdam Industrial Park and “Araz Valley Economic Zone” in the Jabrayil district, five industrial zones in Neftchala, Masalli, Hajigabul, Sabirabad and Sharur. The products worth 10.23 billion manats ($6.01 billion) were produced in the Azerbaijani industrial zones, and goods worth 3.35 billion manats ($1.9 billion) were exported. The enterprises operating in industrial zones sold products worth 1.4 billion manats ($823 million) in the first half of this year, of which 33.2 per cent, or 470.6 million manats ($276.8 million), accounted for exports,” he wrote.

According to the article, the share of industrial zones in the country’s non-oil sector of industry was 16.5 per cent while in the export of non-oil industrial products - 20.7 per cent (470.6 million manats or $276.8 million) in the first half of 2023. Products produced in industrial zones are exported to more than 50 countries.

In turn, Azerbaijani Energy Minister Parviz Shahbazov has written that currently, the demand of more than 10 European countries for Azerbaijani gas is more than 30 billion cubic metres per year.

Some 28.7 billion cubic metres of Azerbaijani gas were transported to Europe via the Trans Adriatic Pipeline (TAP), Report informs citing Shahbazov’s article published in the official newspaper on the occasion of Power Engineers’ Day.