OREANDA-NEWS. January 31, 2008. For the past year Azerbaijan’s industrial output reached AZN 20,247.8 million ($23,820.9 million in accordance with rate USD1 = AZN 0.85) that is 24% more versus the 2006 same period, the State Statistical Committee (SSC) informed.

The government forecasted industrial production increase of 46.6% for 2007 and real index for 2007 was 22.6% less than the forecast. Industrial production still makes 94.5% of the forecast for 2007 (AZN 21,432.9 million).

Over the 2007 industrial production in private sector was 77.4% (AZN 15,668,100) of overall manufacture. Non-state sector was observed growth of 32.6% against growth of 1.6% in state sector.

Production in extracting industry (AZN 14,625.5 million) made 72.2% of entire industrial output, processing industry 21.5% (AZN 4,416.9 million) and rest volume (AZN 1,205.4 million) fell on the share of energy, gas and watersupply sectors. Production in extracting industry rose by 29% and processing industry by 7.5% and declined in energy, gas and water sectors by 7.6%.

The SSC links decelerating rise in industrial production with similar processes in oil and gas sector. Oil production grew only by 29.4% that failed to compensate increase of extraction of gas (+81.8%) and 31.5% rise in other mining operations.