Azerbaijan Experiences Decline in Gold and Silver Production in 2023

Reduction in Precious Metals Output

Azerbaijan has reported a decrease in the production of gold and silver in the January to November period of 2023. According to the State Statistics Committee, the country produced 2,507.9 kg of gold and 3,762.2 kg of silver during this time.

Comparative Annual Decline

This production represents a significant decline compared to the previous year, with gold production dropping by 16.4% and silver production by 49.9%.

Copper Concentrate Production

Alongside precious metals, Azerbaijan also reported on its copper concentrate production, which totaled 2,115.8 tons in the same period. This figure is 8% lower than the production recorded from January to November 2022.

National Reserves as of December 2023

As of December 1, 2023, Azerbaijan's national reserves stood at 234.8 kg of gold, 621.8 kg of silver, and 234.8 tons of copper concentrate.