Share of private sector in industry hits 78.4 pct in 2020

By Ayya Lmahamad

The share of the private sector in Azerbaijan's industry sector amounted to 78.4 percent in the period between January and August, local media has reported.

Moreover, the share of industrial products in the total volume of production was 85.7 percent, while the share of industrial services was 14.3 percent.

Furthermore, cost of goods and services produced in Azerbaijan in the industrial sector amounted to AZN 19.7 billion ($11.5bn) during the period of January-August 2020, which is by 3.4 percent less compared to the same period of 2019.

Some 74.3 percent of industrial production falls on mining, 22.8 percent on processing, 2.1 percent on production, distribution and supply of electricity, gas and steam, and 0.8 percent in the sector of water supply, waste treatment and recycling.

Likewise, as of September 1, stocks of finished products at industrial enterprises’ warehouses amounted to AZN 311.4 million ($183.1M), taking into account reserves created in previous periods. In addition, at the warehouses of industrial enterprises there were other products purchased from other enterprises and intended for sale in the amount of AZN 85 million ($49.9M).

The volume of production in Azerbaijan’s non-oil and gas sector increased 13.6 percent during the period between January and August in 2020. However, the decline in the industrial production was due to the decline in production in oil and gas sector by 4.9 percent, and increase in the non oil and gas sector.

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