Azerbaijan Shares Reasons Behind Decline In Industrial Production

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 13.​ According to the State Statistics Committee, Azerbaijan produced industrial goods worth 10.7 billion manat ($6.2 billion) in the first two months of this year, reflecting a 1.9 percent decrease compared to the same period last year, MP Vugar Bayramov said on his social media account, Trend reports.

"In the first two months of this year, industrial production in the oil and gas sector fell by 3.2 percent, while the non-oil and gas sector saw a 6.7 percent increase. Additionally, crude oil production decreased by 6.2 percent, while natural gas output saw a slight increase of 0.1 percent.

60.9 percent of industrial goods were produced in the mining sector, 31.8 percent in manufacturing, 6.4 percent in electricity, gas, and steam production, distribution, and supply, and 0.9 percent in water supply and waste management. He pointed out that due to the significant share of the mining sector in the overall structure, the decline in oil and gas production had a direct impact on the total industrial output.

Despite the decline in industrial production during the first two months of 2025, growth in the sector is anticipated to recover in the coming months. The downturn in the oil and gas industry is largely attributed to seasonal factors. As a result, the projected growth rate for the industry in 2025 is expected to be realized by the end of the year," Bayramov said.

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