Azerbaijan posts growth in defense industry production
In 2020, the total volume of production at the enterprises of the Defense Industry Ministry of Azerbaijan amounted to 368.8 million manats ($217.06 million), excluding VAT, Faktor.az informs with reference to the Cabinet of Ministers.
This figure is 42.9% more than in 2019.
Compared to the previous year, the increase in defense and special-purpose products amounted to 111.4 million manats ($65.5 million) or 44.9%.
In general, out of manufactured products, defense and special-purpose products accounted for 359.7 million manats ($211.7 million) or 97.5%, while 9.1 million manats ($5.3 million) or 2.5% were directed to civil purposes.
During the reporting period, the ministry transferred 18.1 million manats ($10.6 million) to the state budget, 7.8 million manats (almost $4.6 million) to the State Social Security Fund, and 320,500 manats ($188,642) for unemployment benefits.