Latest August reports and market trends analysis delivered a positive scenario for Azerbaijan economy.
The value of goods and services in Baku reached 19.9 billion manats in the period January-June 2019, which is almost 12 billion dollars and it is equivalent to a 0.7 percent increase, comparing to the same time period of last year in Azerbaijan.
Reports explained that “Some 81.3 percent of industrial production accounted for the mining industry, 16.7 percent – the processing industry, 1.5 percent – electricity generation, and 0.5 percent – waste cleaning and recycling sector”.
Azerbaijan economy has been flourishing in latest years and the latest trends suggest that the country is expanding its production facilities to meet an increasing demand for natural resources, good and services.
Sinalco is also increasing its market reach and its offer for intermediation toward foreign partners willing to establish or consolidate their presence in the Azerbaijani market.
As from the most recent news, the size of the non-state owned industry reported 83.9 percent slice of the pie, while the size of the whole industrial sector accounts for a 88.9 percent, and the size of related industrial services is set to 11.1 percent.
The interesting aspect is that the majority of manufacturing addresses the consumer market.
Also from reports: “As of July 1, 2019, the value of the stocks of finished products in the warehouses of industrial enterprises reached 253.3 million manats.”
Taking in consideration that there were already production reserves stored and available in industrial companies warehouses, the Azerbaijani economy can add-up some extra 53.8 million manats worth of goods.
The first semester of 2019 witnessed then an increase of production and demand. We will continue to keep you updated on the latest market news, should you wish to consider Azerbaijan as a country to expand your business activities. You will be also counting on the full support and logistics from Sinalco as your committed business partner.