By Rasana Gasimova
Azerbaijan has proven once again the effectiveness of economic reforms carried out in the country, by increasing the volume of industrial production to 38.1 billion manats ($22.4 million) in January-October 2019, thus exceeding the figure of the same period in 2018 by 1.4 percent.
The growth of industrial production in the non-oil sector in the reporting period amounted to 14.5 percent, the State Statistical Committee said in its report.
Over the indicated period, the mining industry accounted for 70.3 percent of the production volume, the processing industry – 24.9 percent, the production and distribution of electricity, gas and steam – 4.1 percent, and the sphere of water supply, waste treatment and processing - 0.7 percent.
The reporting period also saw the growth in the structure of the processing industry.
The woodworking and wood products production increased by 85.3 percent, finished metal production - by 83.5 percent, tobacco production - by 67.6 percent, drinks production - by 39.5 percent, computers, electronics and optical production - by 37.1 percent, textile production - by 37 percent, installation and repair of machinery and equipment - by 30.4 percent, and furniture manufacture – by 29.5 percent.
Growth was also observed in the production of chemical products (26.5 percent). A 24.6 percent increase was marked in cardboard and paper production, a 23.9 percent increase in printing products, a 22.7 percent increase in the production of rubber and plastic products, 20.8 percent in pharmaceutical products, 13.9 percent increase in food products, a 12 percent increase in the production of clothing, a 6.8 percent increase in electrical equipment, a 4.5 percent increase in machinery and equipment, and a 3.8 percent increase in the building materials production.
The report also noted that during the reporting period the decline occurred in the production of petroleum products (by 4.8 percent), other vehicles (10.8 percent), products of the metallurgical industry (12.6 percent), leather, leather products and shoes (26 ,2 percent), automobiles, trailers and semi-trailers (30.7 percent).
As to the production and distribution of electricity, gas and steam, industrial growth in these sphere amounted to 3.2 percent in January-July 2019, whereas the water supply, waste treatment and processing increased by 7.4 percent.
The volume of industrial production in Azerbaijan amounted to 47.7 billion manats ($28.05 billion) in 2018, which is 1.5 percent more than in 2017.
Thus, the State Program for the Development of Industry in Azerbaijan for 2015-2020 and the successful industrialization policy are yielding positive results.
Main directions of the State Program are increasing competitiveness of the industry and strengthening its capacity, supporting activities of industrial enterprises, strengthening human capital and scientific support, and improvement of legislation, which is expressed in improvement of legislative base regulating the activity of industrial enterprises.
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