Industrial production down by 20% in Azerbaijan

In January 2024, industrial enterprises and private entrepreneurs in Azerbaijan produced industrial goods worth 5.2 billion manats ($3.06 billion), or 20% less year-on-year.

Referring to the State Statistical Committee, Report informs that production in the oil and gas sector decreased by 2.5% over the past year, while it increased by 8.9% in the non-oil and gas sector.

66.6% of the industrial output was made in the mining sector, 27.1% in the processing sector, 5.6% in the sector of production, distribution, and supply of electricity, gas, and steam, and 0.7% in the water supply sector, waste treatment, and recycling.

In the mining sector, commodity oil production decreased by 8.3%, while commodity gas production increased by 4.2%.

Production in the sector of production, distribution, and supply of electricity, gas, and steam decreased by 11%, while in the sector of water supply, waste treatment, and recycling, it increased by 0.2%.