Fall in industrial production of Azerbaijan keeps on
Baku, Fineko/abc.az. Azerbaijan’s industrial production dropped by 5.5% in May 2012 compared to April’s index (AZN 2.899 bn). The record index for the entire history was registered in October 2011 (AZN 4.797 bn).
The State Statistics Committee informs that for Jan-May 2012 country’s industrial production totaled AZN 15.001 bn ($18.989 bn on average exchange rate of AZN 0.79 to the US dollar) that is by 2.9% less versus Jan-May 2011. This May volume of industrial production made up AZN 2.739 bn. The March level (AZN 3.36 bn) still remains the best in 2012.
For comparison, in 2011 industrial production totaled AZN 43.728 bn ($43.728 bn) that was by 5% less than the 2010 figure.
In December 2011 industrial production was AZN 3.379 bn against AZN 4.797 bn in October (record for the entire history). In 2010 industrial production reached AZN 27.4 bn (+2.6%), including AZN 2.76 bn in November (the 2010 best index per month).
Over Jan-May 2012 industrial production in the state sector made up AZN 2.698 bn with year-on-year rise of 3.3% and AZN 12.3 bn with decrease of 4.3% in the non-state sector. The share of state sector was only 18% of overall industrial manufacture and the share of non-state sector 82%.
For Jan-May 2012 production in extracting industry reached AZN 11.635 bn or 77.5% of entire industrial output, processing industry AZN 2.559 bn or 17.1%, energy and gas sector AZN 729.7 million or 4.9% and the rest volume of AZN 76.6 million or 0.5% fell on the share of water supply, sewage treatment and utilization of hard waste. Production in extracting industry fell by 5.4%, increased in processing industry by 14.6%, in electric power and gas sectors by 3.4%, and by 2.5% in water supply and waste utilization.
Over Jan-May 2012, as well as following 2010-11, the trend when industrial output rise lagged from general growth of GDP continued. For Jan-May GDP grew by 0.7% against 2.9% fall in the industrial sector.
Tags: industrial production
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