In January-May this year industrial production (AZN 29.6 bln) in Azerbaijan fell by 1.9%. The drop in oil production, the country's main industrial and export commodity, is also pulling down the overall industrial output. According to the State Statistics Committee, production of marketable oil fell by 8.4% over the five months as compared with the appropriate period. The overall product of the oil and gas sector declined by 2.8% year-on-year. Marketable natural gas production grew by 2.9% over the period. In the non-oil and gas sector, the industrial production grew by 7.4%, according to SSC calculations. A share of extractive industry in the structure of industrial production in Azerbaijan has exceeded 70% since the beginning of the year. Manufacturing industry has produced 24.4% of the country's industrial goods. This year, negative trends are observed in such sectors of industrial production as leather and leather goods production (-0.4%), pharmaceutical production (-16.4%), textile production (-28.4%), metallurgy (-37.9%). Volume of the production, distribution and supply of electricity, gas and steam grew by 5.5%; while water, waste treatment and recycling grew by 16.5%.

Source: Turan News Agency