Page 64 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY A ND PRACTICE, V.79, # 1, 2022, pp. 50-68

The above table compares the global innovation indexes of some countries with
Azerbaijan, which has similar aspirations in terms of population and area, as well as
economic relations.

According to the statistics of 2020, the gross industrial product (GIP) was 37.27
billion AZN, the GDP was 72.43 billion AZN, and the gross innovation product was
28.58 million AZN, or 0.039% of GDP and 0.076% of gross industrial product. The
dynamics and specific weight of innovative products in the industry for 2016-2020
are shown in table 3.

Table 3: Dynamics of innovative products in industry for 2016-2020
GIP, Newly applied Improved Gross innovation Share of gross Share of gross
thousand & significant product, product in the innovation innovation
Years AZN changed thousand industry, in product in % product,
Product in AZN thousands of industrial %GDP
thousands of AZN output
AZN

2016 32300200 35747 540.9 36287.9 0.112 0.06
2017 39892500 14676.7 383.8 15060.5 0.037 0.02
2018 47677000 28952.2 855.3 29807.5 0.062 0.037
2019 46999200 21698.1 3905.9 25604 0.054 0.031
2020 37269900 11759.7 16828.4 28588.1 0.076 0.039
Source: Author's calculation based on official data published by State Statistics
Committee

The mentioned comparison in table 2 and the statistics in table 3 show that our
country is still lagging behind in the activities and applications of innovation, and
there is a need for serious improvement in this area.

The costs of technological innovation in the industry for product and process
innovation are described in the table below.

Table 4: According to the types of innovations for 2010-2020, the expenditures
on technological innovations in the industry (thousand AZN).

Years 2019 2020
The whole industry 48037.1 35919.8

product innovations 38343.5 20059.2
process innovations 9693.6 15860.6
Mining industry 378.6 1001.1

product innovations 290 638.2
process innovations 88.6 362.9

Processing industry 47658.5 34918.7
product innovations 38053.5 19421
process innovations 9605 15497.7

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