Published November 2021, Pg. 59-66

Section: Economy, management and law

UOT: 338.121, 338.332

DOI: 10.37474/0365-8554/2021-11-59-66

The role of industrial parks in formation of additional cost for petroleum products in refining industry of Azerbaijan

Kh.Kh. Jahangirov

The paper analyzes the current state of industry, which has special role in Azerbaijan economy, reveals the major problems in this sphere, and shows the perspectives of more efficient use of existing potential in improvement of industrial production and increase of product range. Therefore, one of the main research principles is the formation of additional cost for petroleum products due to the more efficient use of oil factor, which is the major criterion in Azerbaijan industry, providing currency incoming to the country. For these purposes, based on the statistic data obtained through various sources, the analysis of significant aspects such as the design and capacity of production in oil and non-oil sector, the current state of main stocks, investments in the field and their sources, external trade turnover of industrial goods has been carried out. The effect of the trends seen in these spheres over the years on the country’s economy in a whole is justified. The significance of the industrial parks is marked in the organization of new and non-traditional production areas, in the increase of production range, diversification of export and reduction of dependence on the import for numerous types of goods, improvement of efficiency in these spheres as well.

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