Page 62 - Azerbaijan State University of Economics

Gulbaniz T. Aliyeva: The issues related to formation of competitive structure of industry in Azerbaijan

of management, quality of social institutes (Albegova and others, State economic

policy, 1998: 320-257).

Table 7. Update of production funds of the industry

2005 2010 2011
Industry- total 15.5 7.9 7.7
Mining 20.4 7.9 9.0
Crude oil and natural gas extraction 21.1 7.7 9.0
Refinery sector 3.4 5.5 6.7
Production of food products 2.4 2.6 6.9
Weaving 1.5 0.5 6.8
Clothes production 2.1 0.0 0.1
Production of oil products 7.8 5.6 12.9
Chemistry products 1.6 0.8 0.8
Metallurgy products 0.5 0.4 20.0
Production of electric products 3.6 0.2 5.8
Production of machines and equipment 3.5 18.7 3.2
Electricity, gas and stream production, allocation
and supply 2.5 10.2 1.8
Water supply, collection and refinery of garbage 1,7 8,2 4,1
Source: Statistical Committee of Azerbaijan Republic

1998-2011 development of industry was due to the mining sector. This is

related with the large portion of products of the mining sector. At the same time

the volume of mining related products decreased from 80.7% in 2009 to 78.2% in

2011 (Azerbaijan statistics, 2012: 848-469).

Efficient allocation of the resources brought about both efficient utilization of

these resources and plays significant role in production of competitive products.

Transfer of Azerbaijan from planned to market economy significantly affected all

local companies and made them to realize the restructuring. However according to our

researches improper strategic planning and not readiness for restructuring brought

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