Industrial production in Baku up by 93% -

6 October, Thursday

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Industrial production in Baku up by 93%

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In January-July 2022, the cost of industrial goods and services in Baku increased by 20.8 billion manats ($12.2 billion) or 93.3% compared to 2021 and amounted to 43.1 billion manats ($25.6 billion), the Baku City Statistics Office of the State Statistical Committee.

According to the committee, 85% of industrial output last year was formed in mining, 12.6% in processing, 1.5% in electricity, gas and steam production, distribution and supply, and 0.4% in water supply, waste treatment, and processing sectors.

The share of the private sector in the industry was 90.6%. The percentage of industrial products in the total production volume was 95.1%, and of industrial services was 4.9%.

Most of the products were sent to consumers. Considering the reserves created in previous periods, as of August 1, 2022, the stocks of finished products in the warehouses of industrial enterprises amounted to 421.5 million manats ($248 million).

The warehouses also contained other products purchased from other enterprises and intended for sale in the amount of 76.5 million manats ($45 million).

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