Industrial output in Azerbaijan up 1.1% in 2024

BAKU. Jan 21 (Interfax) - Nominal industrial output in Azerbaijan totaled 64.1 billion manat in 2024, with real growth estimated at 1.1% compared to 2023, the country's State Statistics Committee said.

Output in the oil and gas sector grew 0.5% while in the non-oil and gas sector it grew 7.3%.

According to the Statistics Committee, the mining industry accounted for 64.3% of overall production, manufacturing accounted for 29.8%, electricity, gas and steam production and distribution for 4.9%, and water supply, waste treatment and recycling for 1%.

In the manufacturing sector, output grew in the production of pharmaceutical products (+81.5%), furniture (+45.9%), automobiles, trailers and semi-trailers (+44.7%), finished metal products (+38.9%), electrical equipment (+32.8%), metallurgical products (+27.1%), woodworking and wood products (+25.9%), clothing (+24.7%), rubber and plastic products (+18%), construction materials (+16.9%), beverages (+15.7%), food products (+10.5%), leather, leather goods and footwear (+9.3%), chemical products (+6.5%), paper and cardboard (+5.9%), computers, electronics and optical products (+4.7%), tobacco products (+4.1%), other industrial products (+2.8%) and textile products (+0.9%).

Output fell in machinery and equipment installation and repair (-1.2%), petroleum product manufacturing (-11%), printing production (-23.7%), other transport equipment (-50.3%) and machinery and equipment (-51.4%).

Output in electricity, gas and steam production and distribution fell 1.7% in 2024, while it grew 2.7% in water supply, waste treatment and recycling.

The official exchange rate on January 21 is 1.7 manat/$1.