Economy of Baku
Economy of Baku covers the issues related to the economy of the city of Baku, capital of Azerbaijan. Historically, Baku has been the center of the country's economic life because it is located on the coast of the Caspian Sea of the Caucasus region as an international junction of land and sea trade routes.
Industry
By industrial institutions and individual entrepreneurs operating in this field, in January–November 2017, industrial production was 29.9 billion manat or was 3.7 percent less than in comparison the same period of the previous year.
Food production in the manufacturing sector increased by 2.0 percent, drinks by 23.4 percent, production of textile industry by 9.9%, clothing industry by 10.3%, leather goods, footwear production by 61.3 percent, paper and cardboard production by 27.9%, chemical production by 44.7%, production of pharmaceutical products by 2.6 times, production of Rubber and Plastics Products by 8.4 percent, production of building materials by 18.1%, metallurgy industry by 5.1%, electrical equipment production by 14.1%, machinery and its materials production by 47.1%, furniture production by 37.9%, jewelry, musical instruments, sport and medical equipments by 30,1%.
The volume of production increased by 24.3 percent in the sector of production distribution and supply of electricity, gas, and steam, water supply, waste treatment and processing sector by 20.9 percent.
The large part of the industrial products was sent to consumers, as of December 1, 2017, the final product covered 181.9 million manat in the warehouses of industrial enterprises, taking into account the reserves of previous years.
In January–November 2017, 12331.2 million manat or 3,35% fewer funds than in comparison the same period of 2016 were directed to capital assets. 8841.9 million manat or 71.7% of the funds directed to the capital assets were used for the construction and installation work.[1][2]
| 2016 | 2017 | |||
| Compared to the same period of the previous year
(%) |
Compared to the same month of the previous year (%) | Compared to the same period of the previous year
(%) |
Compared to the same month of the previous year (%) | |
| January | 96,6 | 96,6 | 98,7 | 98,7 |
| January – February | 99,9 | 102,4 | 95,2 | 92,5 |
| January – March | 99,3 | 99,8 | 93,5 | 85,5 |
| January –April | 99,5 | 101,7 | 94,4 | 97,3 |
| January –May | 100,3 | 103,4 | 94,7 | 96,9 |
| January –June | 101,8 | 112,9 | 94,3 | 92,9 |
| January –July | 101,3 | 103,0 | 94,4 | 95,6 |
| January –August | 101,3 | 102,4 | 93,8 | 91,4 |
| January – September | 100,1 | 93,0 | 94,9 | 104,1 |
| January –October | 99,9 | 96,5 | 95,7 | 106,1 |
| January –November | 99,4 | 94,8 | 96,3 | 105,2 |
| Yanvar-dekabr | 99,7 | 104,7 | ||
Mining industry
The total cost of production in the mining industry decreased by 3.6 percent compared to January–November of the previous year and amounted to 24.4 billion manat.
81.5 percent of the industrial production was produced in the mining sector, 16.2 percent in manufacturing sector, 1.6 percent in electricity, gas and steam production, distribution and supply sector, 0.7% in the water supply, waste treatment and processing sector.
Extraction of crude oil, the main product of the field was 34.9 million tons, natural gas commodity extraction was 16.6 billion kub meter.
Oil production in the mining sector decreased by 6.2 percent, as well as commercial gas production decreased by 2.2 percent.
| Product types | Produced in January–November 2017 | Compared to the same period of the previous year (%) | Ready stockpile for
01.12.2017 |
| Crude oil and natural gas extraction | |||
| Crude oil (including gas condensate), thsd tons | 34 889,8 | 93,8 | 216,0 |
| Natural gas,
million cubic meters |
16 551,4 | 97,8 | - |
| Product types | Produced in January–November 2017 | Compared to the same period of the previous year (%) | Ready stockpile for
01.12.2017 |
| Other mining industry products | |||
| Limestone for construction, thousand tons | 112,3 | 80,4 | - |
| Gravel, crushed stone/road metal | 31 942,6 | 167,6 | - |
| Gypsum and anhydride, ton | 19 739,8 | 130,0 | 2 585,6 |
The total value of production in the oil field was 2469.2 million manat, having decreased by 9.2 percent in comparisation with January–November of the previous year. Production of petrol increased by 4.7%, petroleum coke by 6.8%, bitumen production by 22.7%, lubricating oil by 3.7 times, as well as production of diesel fuel decreased by 20%, production of mazut fuel oil by 42.6%, white petrolatum by 6.9%.[1]
|
Product types |
Produced in January–November 2017 | Compared to the corresponding period of the previous year
(%) |
Ready stockpile for
01.12.2017 |
| Petrol(for automobile), thousand tons | 1 097,6 | 104,7 | 55,2 |
| Petrol for use in petrochemical industry, thousand tons | 169,0 | 96,5 | 1,1 |
| White petroleum,
thousand tons |
539,0 | 93,1 | 13,4 |
| Diesel fuel,
thousand tons |
1 718,4 | 80,0 | 53,1 |
| Mazut fuel oil,
thousand tons |
262,5 | 57,4 | 7,0 |
| Lubricating oil,
thousand tons |
33,6 | 3,7 times. | 8,2 |
| Bitumen production,
thousand tons |
208,8 | 122,7 | 2,9 |
| Petroleum coke,
thousand tons |
197,5 | 106,8 | 1,3 |
Production industry
In January–November 2017, the manufacturing industry produced goods with total 4843.7 million manat and provided industrial services.
| Compared to the corresponding period of the previous year (%) | Compared to the corresponding period of the previous year (%) | |
| 2016 | 2017 | |
| January | 99,2 | 102,0 |
| January – February | 103,5 | 92,5 |
| January – March | 103,8 | 84,1 |
| January –April | 106,2 | 89,6 |
| January –May | 106,4 | 89,6 |
| January –June | 112,7 | 89,3 |
| January –July | 103,9 | 89,3 |
| January –August | 98,8 | 89,2 |
| January –September | 99,9 | 87,9 |
| January –October | 100,1 | 89,4 |
| January –November | 100,0 | 89,9 |
| January- December | 99,1 | 102,0 |
Construction
Construction of Baku Higher Oil School new campus, new administrative building of Narimanov District Court, bridge in the Pirallahi district, “Pirallahi” Solar Power Plant, Balakhani Industrial Park, Baku-Tbilisi-Kars Railway, Pirshagi-Novkhani road, Binagadi-Novkhani-Corat highway completed in Baku in January–November 2017.
12331.2 million manat or 3.3 percent less in comparison with the corresponding period of the previous year was directed to the capital assets from all financial sources for the development of the economic and social spheres of city in January–November 2017.
35.1% of the total capital was invested by the state, and 64.9% belonged to non-state investors.
71.7% of funds directed to capital assets were spent on construction works.[3]
| Total
Thousand manat |
Compared to the corresponding period of the previous year
(%) | |
| Baku-total | 5 130 130,0 | 104,0 |
| Including regions: | ||
| Binəqədi | 227 090,3 | 97,9 |
| Xətai | 858 471,7 | 103,9 |
| Xəzər | 100 992,8 | 3,9 d. |
| Qaradağ | 492 102,9 | 120,5 |
| Nərimanov | 476 879,7 | 112,3 |
| Nəsimi | 1 047 540,8 | 123,5 |
| Nizami | 168 072,8 | 43,2 |
| Sabunçu | 114 550,7 | 163,7 |
| Səbail | 1 073 628,0 | 85,7 |
| Suraxanı | 47 033,7 | 88,0 |
| Yasamal | 523 766,7 | 131,1 |
Transportation
According to the January–November 2017, freight transportation by road increased by 1.6 percent in comparison with the previous year and was 5,3021.2 thousand tons. As well as passenger transportation increased by 0,1%, and was 623024,1 thousand passenger.
Number of passengers using metro services increased 5.3 percent in comparison with the previous year and was 207.6 milyon.[4]
| November–January
2017 |
November–January
2016 |
% | |
| Passenger transportation,
thsd passenger |
207 560,9 | 197 205,9 | 105,3 |
| Passenger turnover in transport sector, thsd passenger- km | 2 290 227,0 | 2 175 969,6 | 105,3 |
Consumer market
In January–November 2017, the cost of sold products and services at the consumer market of the Baku for meeting the needs of the population increased 2.2% in comparisation with the same period of 2016 was 21964,1 million manat.
95.6 percent of the total cost of the sold goods and services consisted of the non-governmental sector, cost of the retail trade turnover and paid services on this field increased by 1.7 percent compared to the same period of the previous year and amounted to 21001.3 million manat.
| January–November 2017
Million manat |
Compared to the corresponding period of the previous year
(%) | |
| The total cost of the sold goods and services | 21 964,1 | 102,2 |
| including:
on state property |
962,8 | 115,1 |
| on non-state property | 21 001,3 | 101,7 |
| of these:
individual entrepreneurs |
15 663,5 | 99,4 |
The volume of services rendered by the information and communication institutions to the population, administrations and organizations increased by 4.5 percent in January–November compared to the same period of the previous year and amounted to 1486364.4 thousand AZN.
Average monthly nominal wages of hired workers in economic and social spheres of the city in January–October 2017 increased by 6.7 percent compared to the same period of the previous year and reached 782.9 manat.
See also
References
- 1 2 "Official website of the State Statistical Committee of the Republic of Azerbaijan".
- ↑ "Official page of Baku City Statistical Office".
- ↑ "Information about construction of Baku on Official page of Baku City Statistical Office".
- ↑ Bakı Şəhər Statistika İdarəsi (In Azerbaijani). "Information about transportation of Baku on the official page of baku City Statistical Office". www.baku.azstat.org. Retrieved 2018-02-28.