Page 53 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.70, # 1, 2013, pp. 46-76

As we can see, effective from 2010 the portion of extraction industry started

to decrease and on other hand the non-oil sector started to develop rapidly. Thus

the weighted average of energy complex in total industry decreased from 79.8% in

2010 to 75.4% in 2011. This trend is observed in some extend in export as well. In

export the portion of oil and gas related products decreased from 94% to 90.2%. At

the same time further increase was in other sectors like fruits and vegetables

1.11%, vegetable and animal oil by 0.93%, chemistry industry by 0.73%. However

the portion of oil and gas industry remains high enough.

Figures show that if Azerbaijan industry develops other quickly, non-oil sector has

not been restored of the industry areas to the previous level and its competition

superiorities. The labor productivity in refinery sector was 6.8 times lower than in mining

and 29.6 times lower than in other realms of industry. Such conditions increase the gross

margin of the products and have negative impact on competitiveness of the products.

Table 3. Foreign turnover of basic products of Azerbaijani industry (2010)
Name of the product Import, thousand % Export, thousand %
US dollar US dollar
Total 6599354,7 100,0 21324777,7 100,0
Mineral products 208159,5 3,2 20083591,0 94,2
Chemistry products 437786,0 6,6 47886,7 0,2
Weaving 60850,1 0,9 42785,2 0,2
Stone, concrete, asbestos, ceramics 201714,5 3,1 1386,6 0,0
and glass production
Low value metals and products 925153,1 14,0 126221,4 0,6
produced from them
Machines, vehicles, electronic and etc. 1902650,0 28,8 39530,9 0,2
Transportation vehicles 796718,3 12,1 181123,2 0,8
Optical, topographic, medical, musical 174705,4 2,6 7019,0 0,0
and other equipment
Other industrial products 94253,6 1,4 4611,7 0,0
Source: State Statistical Committee of Azerbaijan Republic.

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