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Azerbaijan industrial production index drops sharply in Azerbaijan

26 July 2010 12:52 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Azerbaijanâ€™s industrial production index (IPI), a measure of real production output, was 79.4% in June. According to APA-Economics calculations on data released by the State Statistical Committee, this index was 103.3% in May, 100.8% in April, 113% in March, 85% in February and 106% in January.

This index accounts for the bulk of the variation in national output over the duration of business cycle, i.e. industrial output for June in value terms (AZN 2 018 billion) divided by industrial output for April (AZN 2 541 billion).

As regards the dynamics of the index, the index dropped sharply in February, revival was observed in the industrial production in March, weakness in April. In May the industrial production index began to rise, in June dropped sharply. The decrease in June influenced the growth rate of the total industrial production. The growth rate dropped 3.5% in January-June, while it was 4.3% in January-May.

The State Statistical Committee said AZN 14 158.9 million worth of industrial output and services were produced during January-June 2010.